Below 5196 more downside exists. Above this a small bounce to 5215 zone.

Above 5260 [80% retracement level for the fall from 5280 to 5181] upward momentum gathers strength.
Weekly pivot point 5219 is the next resistance level.
Break of 5180 [yesterday's low] may take it to 5135/5129 which are 100/200 DMA.

NIFTY:

OI: