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Mid-Session Outlook(08-12-2010)

Indian markets showed complete weakness today and broken down last 4 days range for the reasons below:-

1- US markets lost all the gains and closed flat after Ben Bernanke's pessimistic comments about the nation's economy yesterday.
2- US futures trading in Red since morning today and more than 45 points down at this moment.
3- Petroleum rates hiking news.
4- China(SSE) .95% and Hangsang 1.5% down.

As sustaining below last 4 days range therefore more down move expected.