Update : Stay Short on Nifty

I felt that it was the flase breakout on upside. Nity future have broken the last high of 5358 and made new high as 5362 as per LOG chart.
On daily Chart, even if the Nifty break last top but RSI indicator is not break its last top, Predicts as Strong Negative divergence.
So, I still strongly feel that Nifty will start a move to downside as "C" as per the chart shown below.
Major Support Zone - 5164. If this support is not break then Our view will not be so bearish and we have to change the count. Let us watch !!!

Nifty Strong Short Call 08 Aug - Hourly

CMP Nifty future is 5334. Short Nifty here with 5350 as SL, Target will be 5270 (Immediate Intraday), Positional Target will be below 5000.

Study as below - Let us see How Waves unflod in the coming days...