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Mid-session Outlook(23-08-2011)

Slipping upto 4865 was told  and Nifty slipped upto 4863.80 at this moment today. Let down moves stop first and base formation begin today then ongoing consolidation lowest will get confirmation.

Positive market is expected after some more consolidations and next upmove confirmation level is sustaining above 4891. Any down move will be considered only after sustaining below 4865 and next moves confirmation range is 4865-4891.