Owning to good GDP numbers presented by India, market went into celebratory mode and Nifty made good gains on Friday.
However, FIIs+DIIs still remain net short by 18% in their combined Index Future Positions which means they are expecting correction in the market.
On 15 min time frame, price in Nifty is in consolidation zone which is no trade zone for an option buyer.
During the course of the day, if price goes above the consolidation zone (cloud area), the Buy trade will trigger again. However, if Sell Signal comes and price goes below this zone, you may consider taking short positions.