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    HomeNewsBusinessMarketsNext support for Nifty at 4,916: CLSA

    Next support for Nifty at 4,916: CLSA

    On the rupee, CLSA says the recent break above the July 2013 highs opens the door for further weakness towards the next chart resistance in the 67-68 area.

    August 22, 2013 / 12:28 IST

    The Nifty's next support comes at the 4,916 level as its technical structure has deteriorated further following the break below support at 5,500, which ends over 10-months of range-price action, brokerage CLSA said in a report on late on Tuesday.

    As per CLSA's technical analysis the short, medium as well as primary trend for the index remains down.

    On the rupee, CLSA says the recent break above the July 2013 highs opens the door for further weakness towards the next chart resistance in the 67-68 area.

    first published: Aug 22, 2013 12:28 pm

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