Weekly View:For 10 Sept. 2012, Mon-16 Sept 2012, Sun


S&P CNX NIFTY 50 Future(5389.00):

 Resistance: 5406 / 5477 /  5520
Support: 5340 / 5296 / 5233

Our View: As of now it seems that the NIFTY may rise to see resistance near 5477 level after finding some resistance near 5410 level.

Over all: In coming week, the NIFTY has to watch out two crucial levels, one as resistance near 5410 level and another as support near 5340 level. A siginifcant break above 5410 level , as expected, may target 5477 level and this rise could further extend  to 5520 level if momentum builds.

However, on the downside, the NIFTY has to watch out its support neat 5340 level, a significant break below which, not expected, may find ground near 5296 level.

USDINR Future (55.537):

 Resistance: 55.589 / 55.864 / 56.158
Support: 54.997 / 54.504 / 53.406

Our View: As on now it seems that the pair may fall to see 54.504 level.

Over all: In coming week, the pair has good resistance near 55.589 level and a siginificant break out above which, least probable, may take the pair to test resistance near 55.864 level.

However, on the downside, the pair may fall to test support near 54.504 level after finding some support near 54.997 level. This fall could further extend to 53.406 level, if momentum builds.

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