Market Outlook 01/02/08

Atlast, expiry is over and today is the starting of new month and nifty seems to be consolidating here and within 2-3 day's it may settle down in a range.Asian markets are trading high and indian markets also might take a cue and move upwards.For today, nifty above 5200 will test 5255 and above that might be very positive till 5300 and then only if crosses 5300, it will be retest of 5350.On downside, below 5130 it will retest support at 5080.

Stock watch for the day:

Welspun Gujarath (473): If this remains above 467, its target is 485-490 today.Below 467, it is not a buy.