As envisaged in our outlook for 8 October 2012, supply did emerge which dragged Nifty down to 5666.2. The outlook for nifty for 9 October 2012 is of continued supply dragging it further down if it trades bellow 5698 consistently with good volumes, the support is at 5640 below which the trend will reverse and there may be a sudden dip as the stop loss are placed at below 5640 with support at 5573 and 5515.
On the flip side the resistance is at 57555 if it trades above the 5698 mark with good volumes.
On the flip side the resistance is at 57555 if it trades above the 5698 mark with good volumes.
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