Nifty witnessed selling pressure today and closed in red below 5,250 levels. Bears are having control at the moment. On downside, Nifty has some support near 5,170 levels. If Nifty manages to hold 5,170 levels then recovery may be seen, else selling pressure may be continuing.
For intraday trading tomorrow, trend deciding level is at 5,220. If Nifty shows strength above 5,220 levels, then rally to 5,270-5,300-5,350 may be seen. If Nifty does not show strength above 5,220 levels then selling pressure till 5,170-5,125-5,050 may also be seen.