The major sentiments for Nifty looks bearish on unsatisfactory Union Budget 2012-13. It remains to be seen whether this downward break can induce some trend or it`s just because of the nervousness among the minds of market participants just of Union Budget. Key support area is seen at 5,240-5,210, which should not be lost if the uptrend has to continue, while favorable news flow can see index testing the value area of 5,550-5,600. The intraday supports in Nifty are placed at 5,275 and then at 5,240, the resistances for the day are seen at 5,370 and then 5,400.
