Nifty Outlook & Trading Strategy For Tomorrow 10-Feb

Finally Nifty has closed above 5,400 level after many trading session which indicates that the short term trend has turned positive. Global developments will continue to play crucial role in sentiment preparation. Cautious approach is recommended to traders as market has become highly volatile. On the domestic front, impending elections and the resultant anticipation of election winners will influence market sentiments. Downside support exists at 5,320 and then 5,260.

For intraday trading tomorrow, immediate resistance exists at 5450 level, and any trades above this level may lead Nifty to the 5,500 5,550 levels.. For Nifty intraday support exists at 5350 level and any trades below this level would intensify selling pressure till 5,300-5,250levels..