We sold off from a bearish ABC pattern and right now moving sideways. Yesterday's given range are yet to be broken out. Nifty is witnessing intra basis correction due to it's inability to cross 5230.
Supports: 5165 zone is important. Sustaining below that nifty can show 5150-5125 for the day before some sort of recovery. 5085/80 is most crucial as of now for trend reversal.
Resistances: Above 5185 it can show some strength to go towards 5205-5220/30 again. Above 5240, 5295-5335/45 is possible easily.
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