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Mid-session Outlook(21-08-2014)

High volatility immediately after opening and slipping also after new life time high formation today. As selling was seen at higher levels in last 2 sessions and today also therefore until Nifty will not sustain above today highest(7919) after complete follow up consolidation till then very Short Term correction possibility will remain alive and firstly sustaining beyond 7865-7919 should be watched for:-

1- Very Short Term correction possibility below 7865
2- Fresh strong rally possibility above 7919
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