Positive weekly close will enhance the probability of bounce back

Nifty Futures closed at 5261 which is 8 points higher from its previous close of 5253.
For past 4 trading sessions Nifty futures is consistently forming lower top lower bottom where days low was seen at 5238.
Nifty future is already trading near the immediate support of 5260 and if the weakness persist on the charts then it is likely to move towards 200 EMA of 5190.
The crucial support zone from the level of 5190 till 5176 is trend decider for short term trend reversal.
The previous weekly close was seen at 5291 and current weekly close above this level will ensure much needed bounce back in Nifty Futures.
If the bounce back is materialized then retracement resistance levels are placed at 5340 and 5380.
 The short term trend of Nifty Futures is positive till it trades above the reversal level of 5170.
The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5000 on weekly closing basis.
The intraday resistance levels for Nifty Futures are placed at 5300 & 5340 and support levels are placed at 5230 & 5190 respectively.