Nifty Intraday Outlook For Tomorrow 07-Feb

As expected and said, Markets continued its bullish trend and witnessed smart gains today. Nifty surpasses the resistance of 5,265 and registers a break out of a fourteen month old Channel which shows a bullish indication. For the intraday trading tomorrow immediate resistance is now placed at 5,400 whereas 5,250 is an immediate support level. If Nifty manages to trade above 5400 level then rally to 5450-5500 can be seen in near term, on the downside if Nifty breaches 5250, then it may slide to 5200-5125 levels.