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Pre-closing Outlook(12-08-2011)

Indian markets showed weakness immediately after opening therefore it was updated within first 10 minutes today. Strong IIP Data, Strong US and European markets but Indian markets ignored all the positive cues and slipped below last 2 sessions trading range(5125).

Intraday charts of today are showing selling therefore more weakness is possible in the coming sessions. As last 3 hours trading between 5055-5090 is showing little mixed indications therefore for precaution this range break out should be used for next moves confirmations.