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Mid-session Outlook(29-01-2013)

Market zoomed up after quarter pct rate cut of both Repo and CRR and Nifty is hovering around 6100 for the last more than 1 hour. As sentiment boosting good news by RBI therefore some reactionary up moves were immediately expected and being seen also but valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations.