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Mid-session Outlook(31-07-2013)

As Indian Rupee further weakened today therefore Indian markets slipped after gap down opening but some recovery also after lower levels supports. Indian markets will react on FOMC announcements tomorrow and preparing today for those moves.

Nifty is more than 1% down and trading between 5679-5720 with consolidation indications therefore mixed signals and valid break out of mentioned range will be firstly watched for next immediate moves confirmations.

Let next moves preparation and intraday charts formation complete then will be updated according to final conclusions.