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Mid-session Outlook-3(02-01-2014)

Sentiment turned completely depressed immediately after negative news regarding Adani group and market crashed as well as Nifty slipped below last 7 sessions trading range(6260-6344) after first hour trading above it today.   

As sustaining below 6260 will be confirmation of 7 sessions trading range breaking down and deeper correction as well therefore should be firstly watched today and in the coming sessions.