Trend watch: Nifty likely to slip below 10,000 levels

The support for the day is seen at 10,000 while resistance is seen at 10,100

Markets failed to sustain at higher levels as the Reserve Bank of India kept key rates steady in its fifth bi-monthly monetary policy review on Wednesday. The S&P BSE Sensex and the Nifty50 ended the day at 32,597 and 10,044 levels, respectively.

Going ahead, experts suggest the indices could remain choppy and move sideways till the outcome of Gujarat elections is known on December 18. Outcome of the US Federal Reserve meeting next week is another event they are keeping a tab on. 

In the interim, however, they do expect the 50-share Nifty to slip below the 10,000 mark and suggest only