Nifty has support at 5210-5170: Prakash Gaba

Nifty (5275): We said ‘technically nothing has changed and slide to 5210-5170-5080 is still on cards and stiff resistance around 5300’. The market yet again unfolded as expected and saw the resistance near at 5297 near our resistance of 5300 and closed flat for the day.

Technically what we have witnessed so far is just a pause in the down move and the crucial level now to watch would be 5233 and if that goes then we should see the market slide down closer to 5170 levels. However, I must say that 5435 is stiff resistance to deal with.

The crucial support for the Nifty is at 5210-5170 and the target is 5300-5435.