Weekly View:For 11 Jun May 2012, Mon-16 June 2012, Sat


S&P CNX NIFTY Future(4817.85):

Resistance: 4831 / 4885-4906 / 5028
Support: 4769 / 4680-4669 / 4606-4595

Our View: As of now it seems that the NIFTY may continue its fall and test supoort band between 4680-4669 levels.

Over all: This week NIFTY has two crucial levels, one as a resistance near 4831 level and another as a support near 4769 level.A significant break out above 4831 level ( least expected) may take the NIFTY to test resistance band between 4885-4906 levels.

However, on the downside, a siginficant break below 4769 level (expected) may find ground near support band between 4680-4669 levels.This fall could extend to 4606-4595 levels, if momentum builds.


USDINR Future(56.105):

Resistanc: 56.598-56.758  / 57.191 / 57.421
Support: 55.793-55.574 / 55.062 / 54.353

Our view: As of now ot seems that the USDINR may test resistance within the band between 56.598-56.758 levels and then may fall back to test support within the band between 55.793-55.574 levels.

Over all: This Week the USDINR has good resistance near 56.598 levels which is also a crucial resistance level for the pair. A significant break above this band may target 51.191 level.

However, On the downside, the pair has good support within the band between 55.793-55.574 levels and significant break below which may target 55.062 levels. Further fall is least expected within this week.

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