Nifty has support at 5,250:
``Indian markets are expected to open higher tracking positive Asian markets. Auto and cement stocks will be in focus as companies from these two sectors start unveiling monthly sales data from today. Nifty has support 5,250 & resistance 5,345,`` said Mehta Equities.
``The technical view on Nifty continues to be negative as the lower-top lower-bottom formation is well intact on the daily chart. Talking about longer term chart, January month got over on Monday and monthly candlestick has formed a `Dark Cloud Cover` pattern, which has bearish implications for the February month. On weekly chart, as mentioned last week, Nifty has decisively closed below the lower band of Bollinger first time since March 2009 which is also highly negative. The first sign of strength will be a decisive crossover of 5,556, the top made during this week. This will open up the possibility of a further rally till 5,626, where 200 DMA will present a tough resistance. On the downside, meaningful support is likely to come only in the vicinity of 5,200, where the trend line adjoining bottoms of November 2009 and February and May 2010 presents a support. CSO, in its advance estimate to be released today, is likely to peg economic growth at about 8.5% for 2010-11. SCI, Punj Lloyd, Bajaj Hindustan and Bharti Shipyard will declare their quarterly earnings today,`` said the broking house Anagram.