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Mid-session Outlook-3(02-12-2011)

All the Asian markets recovers from lower levels. us and European markets Futores are also .40% to 1% tp therefore sentiment improved and Indian markets also bounced from intraday lower levels.

Nifty retraced from 4980 yesterday and sustaining above today will be confirmation of trading between next resistance range above 5000. As sentiment is improving from positive news flow from therefore continuation of rally above 5000 is expected in next week.