Nifty is at 5179. Technically looking more down. The market is still weak with no sign of strength because of F&O expiry. Some of the indicators are stretched and it could result in a violent correction in fact one more dip could set it up further. We expect one more dip and Nifty tried climbing up from the low but closed marginally in the red. Technically the market is still weak and is going further into the oversold region and that could result in a reaction.
The crucial support for the Nifty is at 5080 and the resistance is at 5289.