Weekly View:For 13 Aug 2012, Mon-18 Aug 2012, Sat


S&P CNX NIFTY 50 future (5350.00):

Resistance: 5387 / 5467 / 5512
Support: 5325 / 5247 / 5149

Our View: As of now it seems tthat the NIFTY may rise to test resistance near 5467 level in next week.

Over all: In coming week, the Nifty has good resistance near 5387 level and a significant break out above this may target 5467 level (expected). Further rise seems not possible but if momentum builds then the pair may see 5512 level.

However, on the downside, the Nifty has good support near 5325 level and a breakout below which(least expected) may target 5247 level.

USDINR Future (55.495):

Resistance: 55.616 / 56.360 / 56.811
Support: 54.820 / 54.406 / 54.192

Our view: As of now it seems that the USDINR may fall to 54.192 level after finding some support near 54.820 level and 54.406 level.

Over all: In coming the pair has resistance near 55.616 level and a break out above which (least expected) may rise to see 56.360 level. Further rise is not expected.

However, on the downside the pair may fall to test 54.820 level and a siginificant break below which (expected) may target 54.406 level. If momentum builds then this fall could extend and may find support near 54.192 level.

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