there are 2 views
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1 view
bulls are trying to protect that lvs,
if once bears started give more pressure from the upper lvs
(Ex-CE8000 CE7900)bulls will let go the nifty down,other than that,
that lvs will be protect u can expect a reversal
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2view
combined MAXCHOI with MAXOI,u get some clear view of what is going on,
if today MAXOI, change from PE7800 to PE7900, thats a clear sign of reversal,
that is what happen yesterday(for down),for today MAXCHOI getting strong around that lvs as u said, but MAXOI stay at 7800,if 2maro MAXOI changed from PE7800 to PE7900,or bulls started give more pressure form the lower lvs
(EX PE7900 PE8000) and once u get a MAXCHOI up signal ,and buy signal in your chart ,most of the time u will see a reversal in nifty,
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this illustration is for uptrend ,apply this same logic for down trend
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if u c my post at 2.25, i said,nifty is getting ready for go up from 7900 lv
i take some long positions at 7950 st 7850,but the signal is not
strong because of the MAXOI,if 2maro MAXOI changed from PE7800 to 7900,
target 8160,8500,DEC/17/2014 nifty low was -7962 from there nifty
went to 9000 ,today low was 7940,let see were nifty goes
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(its my view only)