Nifty upside cap likely at 4,500

The Nifty broke the crucial support level of 4,430 on Friday and found support at 4,330 (38.2 per cent retracement of the rally from 3,790 to 4,652). The index has to maintain its support at 4,330, failing which it could test the 4,280 level. The SGX CNX Nifty’s September futures closed at 4,295 on the Singapore Exchange on Friday night, substantially lower compared with the NSE closing of 4,366. It is a clear... [read full story]