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MTECHTIPS:-Technical Snapshot The Nifty gave a positive opening on strong global markets, but the indices dipped on weak IIP numbers which disappointed the trades.But sharp recovery in the final hours, on the back of positive news from the European markets helped the index to close in green.The market exhibited strong traction, but trimmed some of its gains in mid noon trade on the back of disappointing July industrial output data. Indias industrial production barely moved in July, as weakness persisted in the critical areas of the economy such as manufacturing, mining and capital goods amid sticky inflation, high interest rates, fragile currency, global slowdown and policy paralysis.The IIP, inched up by a measly 0.1% in July 2012 as against expectations of a 0.5% growth. Indias industrial output was at 3.7% in July last year. Metal stocks provided the front line indices a much needed support as stocks like Jindal Steel, Tata Steel, Sterlite and Hindalco recovered on short covering and value buying at lower levels after recent losses. Sentiments were also aided by Aviation shares, which advanced on reports that the government is preparing measures to potentially allow foreign investment in the aviation sector. On the losing side, shares of power generation companies remained under pressure after the IIP of electricity sector reported 2.8% growth in July 2012 compared to 13.1% a year earlier.