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Pre-closing Outlook(03-10-2013)

Sharp up moves in first hour and after that more than 5 hours trading between 5860-5917 which is within and at lower levels of Next strong resistance range(5896-5938). As last 5 hours up moves are showing Bearish Rising Channel formations therefore more consolidation is required between 5896-5938 tomorrow for strong and fast up moves above 6142.50 and it should be kept in mind that valid break down below 5861 after follow up selling within mentioned resistance range will mean completion of Pull Back Rally(short covering) which started after negative news of USA Shut Down on 01-10-2013.