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Pre-open Outlook(31-01-2012)

Although European markets closed in Red yesterday but US markets closed flat after good recovery from intraday lower levels as well as its futures are also positive(Dow is +37) therefore Asian markets are flat to positive and sentiment is good today morning. Indian markets will open positive after pleasantly maintained sentiment and Nifty will firstly hover around 5100 and will prepare for next moves after yesterday very short term expected correction ae well as sustaining it beyond will be first indication of next moves

Follow up buying/selling today morning and sustaining beyond 5100 will give next moves first indication therefore should be firstly watched today.