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Post-open Outlook(17-08-2012)

Trading between yesterday range after good opening. Yesterday weaker intraday supports have been honoured but good selling at higher levels also therefore indian markets have to firstly prepare for next decisive moves beyond yesterday intraday trading range.

As good opening today therefore possibility of correction completion within sideways markets is expected. Nifty will firstly trade between yesterday trading range(5357-5390) and sustaining beyond this range will be next trend confirmation.