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Watch Nifty
Ø Nifty slid through all significant support levels and is precariously near its last support level of 5690-5700 . Though a bounce up in the near term is most likely - whether the level will give the necessary support for the third time is a moot question. Similarly, Bank Nifty is also near its support level of 19500. We would reiterate that this is an opportunity to initiate/average investments. Though a downside could still be a possibility, we should remember that it is always impossible to catch the exact lows.
Ø Nifty's support for 11/01 is expected around 5750, 5690-5700 and 5670.
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