Support and base formation seen at lowr levels within 5200-5220 today but it is only sufficient for very short term up move/minor pull back rally.
Firstly Nifty consolidated near 200-Day EMA but broken it down after little up moves and in the same manner again consolidated near 5460 and again broken it down after little up moves. Nifty could not sustain at higher levels after sudden surge and slipped sharply from higher level today also.
Confirm support between 5200-5220 today but follow up buying is must and minimum sustaining above immediate 1st resistance will give confirmation to any decisive up move.