Taken support on the uptrendline from December 2011 lows.The Nifty needs to trade above the 5240 tomorrow to avoid getting mauled by the bears.
A break below 5190, which is the 61.8% fibo level and the 200 day ema is at 5195, will see the low of 5032 under threat.
Oscillators showing weakness in the oversold zone.Only if they show signs of recovery can a pullback sustain.
Happy Trading !!