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Mid-session Outlook(05-01-2015)

Although now trading near the lower levels of the day after loosing most intraday gains but some supports seen at lower levels and out performing Global Cues as well therefore firstly today trading range(8390-8445) and finally following Fibonacci retracement levels should be watched for the confirmations of on going correction continuation/completion confirmations:-

61.8%-8371 
70.7%-8431 
76.4%-8469 
78.6%-8483 
88.6%-8550