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Mid-session Outlook-2(24-05-2013)

As 38.2% Retracement level lies between next strong support range(5935-5960) therefore this range become most crucial and Nifty again got support within this range today as well as trading above 5960 for the last 2 hours with consolidation signals. Sustaining above 5960 will be strong indication of Pull Back Rally and should be firstly watched now.