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Pre-Closing Outlook(11-11-2011)

All the Global markets crashed yesterday but Indian markets were closed and its reaction was seen today after gap down opening in Indian markets despite positive Asian markets.

Narrow range trading between 5142-5197 with supports at lower levels and selling at higher levels also. As today trading is mixed with multiple sentiments of national(IIP and inflation) and international news flow therefore today range break out should be watched first for next moves confirmations.

Gap down opening and gap could not be filled up as well as higher levels intraday selling also today therefore today trading range breaking down possibility turned higher.