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Mid-session Outlook(09-08-2012)

Only narrow range of 35 points(5330-5365) was given in previous Outlooks and Nifty traded most time within this range today.Although IIP at -1.8%(MoM) and below expectation also but market did not declined sharply and trading in positive zone.  

Market slipped from intraday higher levels today but intraday patterns are showing consolidation signals also and generating up moves continuation hopes but finally sustaining beyond 5330-5365 will be next moves confirmation..