Weekly View:For 21 Aug 2012, Mon-25 Aug 2012, Sat


S&P CNX NIFTY 50 future ( 5383.00):

 Resistance: 5414 / 5464 / 5523
Support: 5341 / 5290 / 5214

Our view: As of now it seems that the NIFTY may fall to test support near 5290 level.

Over all: In coming week, the NIFTY has good resistance near 5414 level which is expected to hold.

However, on the donwside, the NIFTY has support near 5341 level and a significant break our below which may take the NIFTY to test the support near 5290 level. This fall could extend to 5214 level ,if momentum builds.

USDINR future ( 55.822):

 Resistance: 55.947 / 56.540 / 57.840
Suppport: 55.588 / 55.057 / 54.632

Our view: As of now it seems that USDINR may give range bound movement within 55.057-55.947 levels, unless it gives breakout on either side of the range.

Over all: In coming week the USDINR has good resistance near 55.947 level and a siginficant break out above which may target 56.540 level.

However, on the downside, the pair has good support near 55.588 level and a significant break below which may fall to test 55.057 level,

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