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Pre-closing Outlook(14-05-2014)

Nifty traded last 3 hours trading between 7082-7131 yesterday and most time trading between this range today with some follow up selling at higher levels but consolidation pattern of Down Moves in Bullish Falling Channel also seen between 10:00 AM and 01:45 PM today therefore finally rally will remain continued. As much heated sentiment and complete consolidation is required without much deeper correction therefore consolidation will be seen above 7020.