The trend possibly turned down with 120 points gone in 1 day. Seems like Bears took revenge after being bullied for a month.
Tomorrow 5060-5040 is last hope for Bulls. If 5060-5040 is held a pull back to 5230-5250 max possible.
Break below channel will further worsen things for Bulls. Below 5040 gates are open for 4980-4940.. Below which 4830 is on cards.. 4800 is the last hope for Bulls. Below which a New Low on Nifty is coming for sure.. 4250 latest by March end on cards..
Thanks & Regards