Breach of 4700 levels can lead to further losses -CLSA

Laurence Balanco, Asian Technical Research at CLSA said that key support for Nifty is seen at 4650-4700. He feels that Nifty can test 4700 level. He also feels that the breach of 4650 will lead to further losses. Next support beyond 4700 is at 4000.

He further said that Dollar Index can hit 83 mark. He feels that 4000-4300 is an attractive entry level from longer term perspective. He expect gradual step wise correction on S&P towards 1000.

Here is the video interview:

Source:  Moneycontrol.