Nifty and Bank Nifty in sell mode with ichimoku trailing cloud stop loss near 5440(approx) and 10610(approx) respectively. Longs are recommended only above the cloud resistance. Even if one is interested in longs stop loss should be kept very near to 5300 as higher open interest built up in 5300pe indicates put writing. Put writers are at the moment on the view that 5300 would be a great support as of now. If nifty breaks below 5300 then it is a indication of caution towards the continuation of downtrend.