Nifty is at very crucial stage, without touching 200 EMA moving above at this time when everything looking bad is very unlikely.
- Nifty has given very strong bounce from 200 SMA and formed hammer which is a bullish sign
- Still below 100 EMA is bearish sign
- Option data not showing any bulliness, 5100 CE and 5000 CE has added huge OI
- Similar pullback witnessed in DOW as well
My personal view is Nifty can not move for higher level without volume and good news. Though very near to start a bull run till 5600, but not before a closing between 4800 -- 4900