Weekly View:For 12 NOV 2012, Mon-18 Nov 2012, Sun


S&P CNX NSE NIFTY 50 future (5720): 

 Resistance;5756 / 5807-5835 / 5902
Support: 5706 / 5666-5654 / 5592 


 Our view: As of now it seems that the NIFTY may rise to test resistances within the band between 5807-5835 levels.

Over all: In  coming week, the NIFTY has mild resistance near 5756 level and a significant break out above which may take the NIFTY to test resistances within the band between 5807-5835 levels. Further extension extension of rise towards 5902 level is possible if upside momentum builds.

On the downside, the NIFTY has good support near 5706 level and a significant break below which may take the drag the NIFTY down towards support band between 5666-5654 levels.

** Technical analysis is based on data provided by MT4 terminal.

USD INR(54.651):

Resistance: 54.745 / 55.345-55.449 /55.963
Support:54.238 / 54.005 / 53.705


 Our View: As of now it seems that the USDINR may rise to test Resistance band between 55.345-55.449 level.

Over all: In coming week, the USDINR has good resistance near 54.745 level and a significant break above which may take the pair to test resistance band between 55.345-55.449 levels.

On the down side, the pair has good support near 54.238 level and a break below which may find support near 54.005 level.

** Technical analysis is based on data provided by MT4 terminal.

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