Weekly View:For 5 Mar 2012, Mon-10 Mar 2012, Sat


S&P CNX NIFTY Future(5399.00)


Resistance: 5437-5476 / 5596 / 5646
Support: 5290-5270 / 5222-5204

Our View: As of now it seems that Nifty may continue its fall and see 5226 level with a pause near Support band(5290-5270),if opening, on Monday,5 mar 2012, is below 5392 level. However,if opening, on Monday,5 mar 2012, is above 5392 level then we are expecting that the Nifty may test resistance band(5437-5470), expeccted to hold, and then continue it fall.

Over All: This week nifty has to watch out its opening on Monday,5 mar 2012 which is if its opening is above 5392 level(less likely) then nifty may test the Resistance Band(5437-5470). However, if Nifty breaks above 5470 significantly (less likely) then may see 5596 and 5634.

On the downside, if opening, on Monday,5 mar 2012, is below 5392 level(more probable) then may find Support within the Band(5290-5270) and a significant break below this may drag nifty to 5226 level

USDINR Future(49.515):

Resistance: 49.74 / 50.013 / 50.75
Support:49.20 / 48.909 / 48.48

Our View: As of now it seems that USDINR my contunue its rise of last week and see 50.013 this week after finding some Resistance near 49.74 level. Further extension of the rise from 50.013 level is little difficult but seems possible and the pair may see 50.75 if momentum builts.

Over All: This week USDINR has two levels to be watched out one as a Resistance near 49.74 and another as a Support near 49.20. A significant break below 49.20( less likely) may pull the pair to 48.909 and a furhter extension of the fall(least likely) could show 48.480 level to the pair. However, A significant break above 49.74 (highly probable) may take the pair to 50.013 level which could further rise to 50.75(possible if mometum builts).

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