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Mid-session Outlook(28-07-2011)

First 2 hours technical positions are as follows:-

Selling formations between 5492-5500 
Buying formations between 5475-5485

Nifty is hovering around 5497. Both buying and selling between 25 points range of 5475-5500 and this range break out should be firstly watced for next moves confirmations. 

Market is at crucial support and trend decider 5497 therefore break out complete confirmation is must.