 "Next support for Nifty at 4,916: CLSA")
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.