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Post-open Outlook(22-05-2012)

Nifty slipped below 4937 immediately after positive opening today. Selling was between 4928-4937 yesterday and Nifty is trading between this range for the last 45 Minutes after forming lows at 4927.15.

Although Pull Back Rally continuation is expected after sustaining above 4937 but Petroleum Price hike may also be seen within couple of sessions therefore volatility may be seen.

Nifty is trading exactly at 4937 at this moment therefore firstly watch sustaining it beyond for next moves confirmations.