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Mid-session Outlook(30-01-2012)

Very short term correction was very much due and it was clearly told also as well as being seen today. Support of 5120 has been tested and next support below it at 5050..

Intraday patterns are showing selling at higher levels and sustaining below 5120 will mean 5050 fast.

Very short term correction was expected and it has been seen today. Follow up buying/selling within 5120-5130 in the next couple of hours as well as Sustaining it beyond wiil give confirmation of continuation or completion of today begun correction.

Sustaining below 5120 is expected and sustaining beyond 5120-5130 will be firstly watched for next moves confirmations.