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Pre-closing Outlook(09-05-2011)

Nifty traded most of the time between 5500-5560 and intraday support seen st lower levels between 5507-5530. Last 2 hours trading between 5550-5570 and trading patterns are mixed. Nifty below 5550 will mean 5500-5550 and sustaining above 5570 will be first indication of rally.

Nifty slipped from day's higher levels and trading below 5550 but it is not selling confirmation beyween 5550-5570,as patterns between this range are mixed therefore it will be better to wait for confirmation from sustaining beyond in the coming sessions..

I told for trading between 5500-5560 in all the outlooks for today market  and Nifty traded between this range most of the time and also closing within this range today

Intraday support and base formations signals today and sustaining beyond 5550-5570 will be next moves first indications.