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Mid-Session Outlook(08-11-2010)

Market did not showed strength today and today intraday charts are indicating selling paternes. As complete selling patterns requires for reversal of last week up moves near all time high therefore if follow up selling develop today then reversal of last week up move will be considered. 6270-6300 should be watchrd for confirmation of:-

1 Very short term correction or
2 Continuation of last week upmove to test historical high without any correction.