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Mid-session Outlook(02-01-2014)

Last 2 resistance ranges of Nifty are as follows:-

1- Resistance between 6360-6387
2- Resistance between 6330-6355

Nifty is trading between 1st resistance range for the last 2 hours after first 15 minutes strong recovery today. Nifty traded last 7 sessions between 6274-6344 and today trading after forceful recovery from lower levels therefore expected that now Nifty will cross both resistances and  trade above 6387 in the coming sessions/week.