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Mid-session Outlook-3(08-09-2011)


It was told again and again that Indian markets are not mature for any side decisive moves and will firstly prepare for next moves within yesterday trading range. As was told 100% same happened and Nifty is trading between mentioned ranges  for the last 4 hours. 

Intraday support seen at lower levels and intraday patterns also showing consolidations but market could not susaineand higher level and profit booking possibility also can not be ruled out between 5132-5139.

As intraday signals are mixed at this moment therefore next moves and trend confirmation crucial ranges should be kept in mind which have already been posted in previous outlooks.