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Mid-session Outlook-2(16-11-2012)

Nifty moved above 5646 but without required force and confirmation is required through sustaining it above. Multiple resistances also above 5680 therefore consolidation is must for any decisive up move above it.

As lower levels consolidation,base formation and good supports between 5583-5630 therefore very short term up moves are expected but firstly confirmation is must through sustaining above 5646.