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Market outlook Date : 21/01/2011


Markets opened down with a gap, traded in a narrow band but witnessed recovery from days low in the later half of the session to close in green. On the daily charts we are observing sideways consolidation for the fourth consecutive trading session. In coming trading session immediate resistance is at 19161 / 5745 (Nifty Spot level) levels. Any move beyond this level could intensify the upside momentum to 19327 / 5800 levels. On the downside, 18870 – 18795 / 5658 – 5634 may act as support for the day.