Weekly View:For 09 Jul 2012, Mon-16 Jul 2012, Sat
S&P CNX NIFTY future (5329.10):
Resistance: 5361 / 5403 / 5439
Support: 5283 / 5198 / 5146-5132
Our view: As of now it seems that the NIFTY may rise to see 5468 level next week if breaks above 5361 level significantly.
Over all: In coming week the NIFTY has to watch out two crucial levels, one as Support near 5283 level and another as Resistnce near 5361 level. A siginficant break out either below support near 5283 may fall to test support near 5198 level and if momentum builds this fall could extend (less likely) to test support within the band 5146-5122 levels.
However, on the upside, a significant breakout above 53619(as expeced) level may target 5468 level after finding some resistances near 5403 level and 5439 level.
USDINR future (55.727):
Resistance: 55.844 / 56.268 / 56.648
Support: 55.161 / 54.706 / 54.481
Our View: As of now it seems that the USDINR may initially rise to test 56.268 level from where it may fall to test support near 54.706 level.
Over all: In coming week, the pair has good resistance near 56.268 level which is expected to hold if the pair test it.
However, on the downside, the pair has good support near 55.161 level and a significant break out below which may provide beaish momentum to the down side movement and it could see 54.706 level.
Resistance: 5361 / 5403 / 5439
Support: 5283 / 5198 / 5146-5132
Our view: As of now it seems that the NIFTY may rise to see 5468 level next week if breaks above 5361 level significantly.
Over all: In coming week the NIFTY has to watch out two crucial levels, one as Support near 5283 level and another as Resistnce near 5361 level. A siginficant break out either below support near 5283 may fall to test support near 5198 level and if momentum builds this fall could extend (less likely) to test support within the band 5146-5122 levels.
However, on the upside, a significant breakout above 53619(as expeced) level may target 5468 level after finding some resistances near 5403 level and 5439 level.
USDINR future (55.727):
Resistance: 55.844 / 56.268 / 56.648
Support: 55.161 / 54.706 / 54.481
Our View: As of now it seems that the USDINR may initially rise to test 56.268 level from where it may fall to test support near 54.706 level.
Over all: In coming week, the pair has good resistance near 56.268 level which is expected to hold if the pair test it.
However, on the downside, the pair has good support near 55.161 level and a significant break out below which may provide beaish momentum to the down side movement and it could see 54.706 level.
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