Nifty 7 Mar 2013 2:54 PM

                                                        Nifty 30 mins chart

Nifty after opening gap down formed a base as shown in the chart and also held the level of 5800. This base formation acted as a support from where nifty bounced back. Nifty has a resistance near 5850 from where it fell sharply on 28 Feb 2013.