NIFTY resistance at 5050

Nifty finally could not sustain above 5050 despite several attempts by the bulls.  The bears were successful in
dragging it below 5000. The fall signals that the pullback of the fall is almost over.
This will be confirmed once we get a weekly negative close.

However, on the lower side 16370 on Sensex and 4860 on Nifty are crucial supports.