A pause in the run up

Nifty yesterday continued to face resistance at 5400 and drifted downwards further. Global cues are +ve. FII data +ve in cash, squared off longs in F&O. Option writings shows heavy build up in 5400 call and 5300 calls and squared off of 5300 puts.   Expectation: Markets will continue the correction further and if nifty breaks 5300 then 5200-4700. Upper level of 5460 is strong resistance even for today.