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NEXT UPMOVE CONFIRMATION POINT-5260

Mid-Session Outlook(01-07-2010)

US markets triggered today global down move and Nifty is trading within 5235-5260 since weak opening today. Although Indian markets did not crashed after extremely weak European markets opening and today intraday charts are also showing consolidation formations but crossing and sustaining above 5260 should be used for next upmove confirmation because global sentiment is completely suppressed.