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Mid-session Outlook(17-05-2012)

That more than 1% up move and Pull Back rally is being seen today which was projected in both previous outlooks with the confirmation through sustaining above 4882.

Nifty is trading above 4882 since opening today but lot of consolidation is required for up moves because multiple resistances at higher levels and minor selling formations also seen at higher levels today..

Same view for next moves confirmations is through sustaining above 4895/4882.