Weekly View:For 27 Aug 2012, Mon-2 Sept 2012, Sat
S&P CNX NIFTY 50 future (5407.00):
Resistance: 5430 / 5496 / 5552
Support: 5376 / 5292 / 5247
Our View: As of now it seems that the NIFTY may fall to see 5292 level.
Over all: In coming week, the NIFTY has good resistance near 5430 level and is expected to hold but if breaks above, then may rise to test resistance near 5496 level. A further rise is not expected.
However, on the downside, the NIFTY has mild support near 5376 level and a siginificant break out below which may target 5292 level. This fall could further extend to 5247 level, if momentum builds.
USDINR future (55.492):
Resistance : 55.702-55.844 / 56.584 / 56.893
Support: 55.190 / 54.874 / 54.372
Our view: As of now it seems that the USDINR may rise to see 56.584 level.
Over all: In coming week, the pair has to watch out its two crucial levels, one as a resistance between the band within 55.702-55.844 levels and another as a support near 55.190 level. A siginficant breakout above the band within 55.702-55.844 levels may take the pair to test resistance near 56.584 level as we are expecting.
However, on the downside, if the pair gives a break below 55.190 level then it may continue its fall and may find ground near 54.874 level.
Comments
Post a Comment