Weekly View:For 3 Sept. 2012, Mon-9 Sept 2012, Sat


S&P CNX NIFTY 50 Future (5286.65):

Resistance: 5296 / 5351 / 5444
Support: 5237 / 5169 / 5108

Our view; As of noe it seems that the pair may fall to test 5237 level.

Over all: In the coming week, the NIFTY has to watch out a crucial resistance level near 5296 level. If the NIFTY breaks above this then may rise to test resistance near 5351 level.

However, on the downside, the NIFTY has good support near 5237 level. A siginificant break below 5237 level (not expected) may lead the fall to test 5169 level.

USDINR Future (55.780):

Resistance: 55.797 / 56.465 / 57.000
Support: 55.207 / 54.522 / 53.736

Our view: As of now it seems that the pair may move within the range of 55.207 and 55.797 levels.

Over all: In coming week, the USDINR has to watch out two crucial levels, one as resistance near 55.797 level and other as support near 55.207 level. A siginficant break out above resistance near 55.797 may target 56.465 level.

However, on the downside, a significant break below 55.207 level may take the pair to test support near 53.522 level.

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