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Mid-session Outlook-3(23-11-2012)

As both houses of Parliament adjourned after uproar and sentiment weakened therefore down moves seen immediately after adjournment announcement. Nifty got support above 5609 yesterday therefore it was next support and Nifty is trading just below it for the last 1 hour.

Technical positions reverses according to news flow therefore more down moves and testing of supports below 5600 can not be ruled.