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Mid-session Outlook(30-03-2011)

Bull markets correction character was explained in following lines Post-open Outlook yesterday and Indian markets showed exactly same  character in last one hour yesterday and first hour today:-

"Only minor very short term corrections should be expected after heated sentiments and rally will remain continued after its completion and fresh higher levels consolidations."

5700-5900 is resistance range and intraday correction with range bound moves or little dips will always be seen in consolidations. Sentiment heated after 438 points rise in last 8 sessions,Very short term indicators are over bought,some pivotal intraday chart are showing selling patterns and Indian markets are underperforming Asian markets also therefore today trading(5780-5800) range break out should be watched first immediate mext moves confirmations.