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Mid-session Outlook-2(23-10-2012)

As intraday selling patterns between 5692-5721 in last 2 sessions therefore correction continuation and Indian markets slipping possibility has been told in previous 4 Outlooks of today and yesterday. Nifty slipped below 5692 today and until Nifty will not sustaining above 5721 till then any up move will not be considered because selling confirmations just below it.

As slipping below 5692 is without force therefore sustaining below 5692 has to be firstly watched.