Your vote on this answer has already been received
Hi Mr C. Nifty is trying cross stiff resistance of 5250, one can not give you a perfect view on where this market will head towards. However, if it crosses this 5250 hurdle and closes above 5260 today then 5320 target is achievable. On the contrary, nifty has a support at 5220 now.
There can be a +ve or -ve impact of 4rth quarter results of the company on the market. Talking about downtrend, if market does not like the results, performances of the companies in fourth quarter, then once can expect market to kiss 5000 level again. Additionally, if global markets crash down because of some unforeseen circumstances, then the worst figure of Nifty would be 4800.