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Pre-open outlook(20-01-2011)

All the global markets are crashed therefore sentiment is completely depressed today morning and retesting of 200-day EMA(5649) is possible today. 5640-5665 is next strong support range and sustaining below 5640 will mean high risk of long term trend turning down.

Expected that Nifty will trade first near 5640-5665 after weak opening today and sustaining beyond will be watched next move confirmations.