Markets Trend For Monday 06-Feb

Nifty short term trend is strongly bullish, and it has given the fact that it is trading well above the 200 DMA of 5,194. Going forward for Nifty Outlook, it may find next resistance at 5,355 and 5,385 while the support level is there at 5,275 and 5,230. Traders are advised to be cautious as the Nifty volatility has started to move up from the lower levels showing that investors fear higher level selling.Global developments will continue to influence the sentiments, thereby making the markets highly volatile.