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Mid-session Outlook-2(25-04-2014)

Although intraday patterns showed consolidation indications but some slipping was expected therefore the range of  6790-6861 was updated in previous Outlook and Nifty formed recent lowest at 6786. As good selling was seen above 6790 therefore down moves below it was expected in previous session but it is being seen today and once sustaining below 8790 will mean deeper correction towards 6725/6669 as well as must be kept in mind.