24 August, 2014 00:18 IST
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Nifty has strong support at 5,670: CapitalVia
Source: IRIS (12-NOV-12)
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``The Nifty index has slowly but steadily inched lower than the last week and moved to 5,720.60 points from a high of 5,818.80 on the Nov. 09, 2012. The 50-unit S&P CNX Nifty felt 52.50 points to settle at 5,686.25 in the last trading session of the week. Nifty is likely to face resistance at higher level. It is now taking resistance at 5,782 and 5,830. It is going to be very difficult to breach zone of 5,800-5,820. Once it manages to trade and sustain above the level of 5,820 further upward movement would be seen and it may test the level of 5,930,`` said CapitalVia Global Research, while commenting on market outlook.

``On the downside, 5,670 would act as a strong support level for the markets. A breach of this level would increase pessimism and Nifty may face more selling pressure and it may test the level of 5,600.``

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