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Mid-session Outlook(01-06-2011)


Following line was told in all the outlooks which were written for today trading:-


"sentiment was heated and intraday selling patterns seen in the last one hour between 5555-5570"

It was also told each time that market require consolidations for any up move. Nifty is trading between 5565-5595 since opening today. Although market slipped from higher level after some selling but patterns are mixed and no clear indication yet. Market require complete preparaton for any side sustainned moves and it is being done in tight range moves tday.

As selling at higher levels and minor consolidations at lower level also today therefore break out of this range(5555-5595) will be next moves first strong indication.