Weekly View:For 16 Jul 2012, Mon-23 Jul 2012, Sat


S&P CNX NIFTY future (5240.85)


Resistance: 5278 / 5413 / 5487
Support: 5187 / 5096 

Our View: As of now it seems that the Nifty may rise to see 5413 level afer testing Resistance near 5278 level.

Over all: In coming the Nifty has very good resistance near 5278 level whereas on the downside a crucial and strong support near 5187 level. A significant brek out above 5278 level may give the Nifty enough momentum to see 5413 level which could further exxtend to see 5487 level.

however, on the downside, the Nifty has a good support near 5187 level and a significant break below this(not expected)may push the Nifty to see 5096 level.

USD INR future (55.275):


Resistance: 55.872-56.050 
Support: 54.979 / 54.520 / 54.189

Our View: As of now it seems that the USDINR may see support near 54.189 level after finding some support near 54,979 and 54.520 levels.

Over all: In coming week, the pair has good resistance within the band between 55.872-56.050 and is not expeced to break above it.

However, on the downside,the pair has mild support near 54.979 level and 54.520 level

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