As soon as selling developed in intraday charts we updated in both previous outlooks and also clearly told in Mid-session Outlook(02-09-2011) that
"down moves possibilities have increased also"
Down moves developed and Nifty slipped below today lowest and formed new intra day low at 5004.15. Sustaing below 5007 will be signal of on going Pull Back rally termination risk therefore should be watched first.