Support for Nifty at 5220: Gaba

ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 17/02/12 Are Mutual Funds betting on Nifty?

Technical Analyst, Prakash Gaba:

Nifty (5263): We said 'so far the trend is still intact up but crucial support to watch would be 5215 and that would be a first sign of weakness'. The market has remained firm and has also managed to trade above the crucial 5215 levels. Technically the trend is still intact up and 5220 still is a very crucial support to work with and 5220 is the first line of defence.
  
The crucial support on the downside for the Nifty is 5220 and resistance at 5300.

BSE Sensex (17578): The crucial support on the Sensex on the downside is 17400 and resistance at 17635-16800.