I want to do some F.E modal analysis of a machine component, how many modes should i look for? 5, 7? Its a stationary part that may be prone to vibration.
You should determine it depending on the generated frequencies by your machine. You should look at all modes which could come near to a major disturbing frequency.
If you have a major disturbance at let say 3*f (f basic generated frequency) then you should look a the mode with a frequency > 6*f.
You should make the difference between the "own dynamical behaviour" which is a property of the part and the "imposed dynamical load" which is generated by the machine where the part performs.
It's a stationary part so not so critical, I think. Check the nature frequency of stationary is not close to the exciting source ( > 20 % is safe). The exciting behavior will give direct impact on the stationary or not? That will be important.