Most important level to watch is support of 5,480:
``For today, the most important level to watch is support of 5,480 on Nifty cash. If this support is breached then Nifty cash may fall till 5,440 on intraday basis. And if this support is sustained then Nifty cash may move up towards 5,600,`` said, technical analyst Nitin Bagde, Mangal Keshav.
Technical Analyst, E Mathew is of the view that Punj Lloyd has support at Rs 255-260.