Markets are highly volatile on violent global cues and without much intraday trading positions therefore next moves confirmation will be only sustaining beyond any crucial level.
Intraday support was seen between 5012-5035 on 18-10-2011 and Nifty is trading at higher levels of this range for the last 2 hours. 10 days old pull back rally and interpretation of sustaining beyond this range will be as follows:-
1- Finally sustaining above 5035 will mean pull back rally correction completion and up moves for testing resistances between 5145-5220.
2- Finally sustaining below 5012 will mean pull back rally termination and beginning of fresh down moves towards lower levels of 51 sessions old trading range(4720-5229).