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Pre-Closing Outlook(05-12-2011)

Whatsoever was told yesterday for today markets,same is being seen after weak opening and intraday correction has also been seen today.

Nifty is trading between resistance range of 5000-5060 and sustaining above 5060 will be next up moves and intermediate up trend confirmation.

Lower levels consolidation and support seen between 5003-5025 and selling formations also seen at higher levels between 5038-5052 today therefore sustaining beyond today trading range will be next moves confirmation and should be firstly watched also.

Although almost whole day negative zone trading but intraday patterns are showing consolidation formations therefore continuation of rally expected in the coming sessions.

(As busy since morning therefore outlooks could not be posted since morning today)