Weekly View:For 17 Sept. 2012, Mon-23 Sept 2012, Sun


S&P CNX NIFTY 50 FUTURE (5577.00):

 Resistance: 5611 / 5658 / 5740
Support: 5521 / 5444 / 5387

Our view: As of now it seems that the NIFTY may find good reistance near 5611 level and fall back to test support near 5521 level.

Over all: In coming week the NIFTY has to watch out two crucial levels, one as resistance near 5611 level and another as support near 5521 level. A siginifcant break out above resistance near 5611 level may target 5658 and if momentum builds then the NIFTY may rise further to test resistance near 5740 level.

However, on the downside, a siginifcant break below 5521 level may take the NIFTY to test support near 5444 level.

USDINR FUTURE (54.292):

 Resistance: 54.726 / 55.064
Support: 53.664 / 53.210 

Our view: As of now it seems that the USDINR may fall to test support near 53.664 level from where it may bounce back to test resistance near 54.726 level.

Over all: In coming week the pair has good support near 53.664 level and a siginificant break below which may 53.210 level.

However, on the upside, the pair has good resistance near 54.726 level and a siginficant break out above which may target 55.064 level

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