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Pre-Closing Outlook(10-10-2011)

Whole day good intraday consolidation today and continuation of rally expected also. Nifty tested and trading between resistance range of 4960-5022 for the last one hour and sustaining above 5022 will mean strong rally.

Expected that Nifty will finally sustaiin above 5022 after more consolidations but sustaining above 5022 will be watched first for next up moves confirmations.