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Mid-session Outlook(13-05-2014)

Although Nifty opened 55 points gap up but not much strong therefore volatility after minor profit booking was told at 09:25 AM today in Post-open Outlook and it is being seen before Nifty slipping 75 points from higher levels of today. At present this 75 points down moves will be understood only intraday correction and fresh up moves will be expected after ites completion. Let some intraday consolidation and supports develop then fresh rally will be seen and firstly sustaining beyond 7080 should be watched.