Nifty Intraday Outlook for Monday 07-Feb

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Markets failed to manage yesterday's gains and has again resumed its downward move. It is likely expected that Nifty may consolidate in a range of 5,300 to 5,600.

For Intraday Trading on Monday  market may take cues from global markets and likely to open on a positive note. Traders are suggested to long nifty if it trades above 5430 levels, else they can go for short nifty. Nifty could find Support at 5340-5306 levels and 5436-5480 may act as resistance levels for the day.

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