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Mid-session Outlook(01-03-2013)

As sharp down yesterday after disappointing Budget in very short term indicators moving into Oversold zone yesterday therefore minor up moves today. Next strong supports are at 5548.35 and slipping up to that level can not be ruled out. Very short term up moves may be seen any time but decisive up moves will be possible only after complete consolidations.

Pull Back rally may be possible but after some consolidations,let it happen first then will be considered.