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Pre-open Outlook(18-07-2011)

US futures traded 67 points down today morning therefore Asian markets are trading negative and sentiment is depressed today. Bullish formations on EOD and Weekly charts but glogal markets mood completely dampened due to US futures led weakness in Asian markets therefore Indian markets will open in Red today.

Global cues led weakness is possible today therefore sustaining beyond last Friday trading range(5566-5595) will be firstly watched for next immediate moves confirmation.