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Mid-session Outlook-3(18-04-2011)

All the Asian markets slipped from higher levels and closed flat to negative and European markets also opened in Red but Indian markets under performed all and 1.5% down. 5800 broken down forcefully and Nifty sustained below as well. Nifty slipped below 5736 a short while ago and if sustains below then it will be deeper correction confirmation.

Market is down but patterns  are not suggesting genuine selling therefore therefore deeper correction confirmation level is sustaining below 5736.