Nifty traded most time between 5229-5254 today and importance these levels are as follows:-
1- 5229 is previous 54 range highest and sustaining below it will mean moving into range bound market within 4720-5229 and then more down moves will be expected.
2- 5254 is today pivot point and sustaining above it will mean possibility of on going correction completion.
Selling at higher levels in last 4 sessions and markets are down also but minor indications of consolidations today therefore Just watch sustaining beyond 5229-5254 for above mentioned next moves confirmations.