Weekly View:For 02 Jun 2012, Mon-07 Jun 2012, Sat


S&P CNX Nifty Future (5288.75):


Resistance: 5296 / 5364 / 5426 / 5459
Support: 5197 / 5124 / 5068

Our View ; As of now it seems that the Nifty may see 5426 in coming week after finding some resistances near 5296 and 5364 levels.

Over all: In coming week, the Nifty has to watch out resistance near 5296 levels which is not expected to hold. if it holds the nifty may fall to test support near 5197 and further fall below this is not expected.

On the upside, the Nifty may see 5426, if breaks above 5296 level( as expected), after finding some resistance near 5364 level.

USD INR Futures(56.075):

Resistance: 56.336 / 57.051 / 57.685 
Support55.760-55.625 / 55.27  / 54.513

Our View: As of now it seems that the USDINR may fall to see 55.625 and this fall could extend to the 55.27 level.

Over All: In coming week, the USDINR has good resistance near 56.336 level which is expected to hold and the pair may fall to test support band within 55.760-55.625 levels.

However, on the upside, the move beyonnd 56.336 is not expected for this week.

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