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73 Nifty Points small range will decide next Big Moves

Mid-session Outlook(09-02-2012)  

Technical positions of last 3 sessions and today are as follows:-

1- Selling between 5365-5395
2- Support between 5322-5355
3- Last one hour yesterday trading between 5325-5380
4- First 3 hours today trading between 5339-5365

First Indication:-

Both lower levels minor support and higher levels selling was seen between 5325-5380 in last 1 hour yesterday and Nifty is trading as well as preparing for next moves between this range since opening today.Although intraday patterns are showing selling  signals therefore down side possibilities are increasing but next moves first strong  indication will be crossing of 5325-5380.

73 Points next Trend Confirmation Range; 5322-5355

1- Deeper correction confirmation will be after sustaining below 5322.
2- Correction completion within sideways market and then Fresh upmoves confirmation will be after sustaining above 5395.
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