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Mid-session Outlook-2(16-12-2013)

Sharp fall immediate after WPI announcement but next most crucial strong support range (6141-6156) not broken down and hovering around 6156. Market is preparing for next moves on 18-12-2013(after RBI Credit policy) on 19-12-2013(after FOMC) and length of on going correction will be decided according to the announcements of these events. Correction continuation and sustaining beyond mentioned strong support range should be firstly watched for its continuation / completion.