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Mid-session Outlook(05-01-2012)

Following lines were told yesterday:-

Expected that Nifty will firstly hover around today trading range(4730-4780) but will not sustain below 4730 and finally cross and sustain above 4730 as well as rally will remain continued in the coming sessions.

Nifty is trading within above mentioned range since opening today but minor selling patterns also seen at higher levels in first two hours. Although confirmations are required but break out of mentioned range(4730-4780) should be kept in mind for next moves confirmations.