``After opening on a flat note, the Nifty rose to make an intraday high of 5,310.55. However, huge selling pressure was witnessed towards the after noon session and Nifty continuously fell to make a low of 5,187.15 yesterday. At the end of day it closed at 5,200.60. It had a net loss of 90.25 points or 1.71% over the previous day`s close. The selling was witnessed across the board. However, Realty, Information technology, Metal and Capital goods pack lead to the decline,`` said Microsec Capital. ``The daily chart of Nifty is showing that it has been moving in the narrow range of 5,350 and 5,150 since last couple of weeks. Now, Nifty is expected to get a strong support in the band of 5,150 and 5,110. If Nifty breaches 5,110, it may further go down and take support near 5,050 and then 4,940. However, a breach of 5,350 would open the gate foe 5,500 in the extreme short term. Traders are advised to maintain a stop loss at 5,110 of the long positions. On an intra-day basis Nifty has a support at 5,180 and is likely to face a stiff resistance near 5,240. If Nifty breaks 5,180, it may further go down to 5,150 and then 5,110. However, if it is able to sustain above 5,240, the level of 5,290-5,350 would become the next target.`` Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
Nifty has support at 5,180: