Weekly View:For 6 Aug 2012, Mon-11 Aug 2012, Sat


S&P CNX NIFTY 50 (5240.10):


Resistance: 5299 / 5355 / 5443
Support: 5182 / 5147-5124 / 5056

Our View: As of now it seems that the NIFTY may rise to see 5355 level.

Over all: In coming week, NIFTY has good support near 5182 level and is not expected to break.

However, On the upside, the NIFTY seems to see 5355 level after finding some resistance near 5299 level. This rise could extend further to 5443 level if upside momentum builds.

USDINR future (56.095):


Resistance: 56.754-56.995 / 57.30
Support: 55.439 / 55.051 / 54.681 / 53.497

Our View: As of now it seems that the pair may rise to test resistance band between 56.754-56.995 levels and then fall back to test 55.051 level.

Over all: In coming week the pair has good resistance within the band between 56.754-56.995 level.A break out above which seems not possible but if then the par may rise to see 57.305 level.

However. on the downside, the pair has good support near 55.051 level and if the pair breaks below it significantly then may fall to test support near 54.681 level.

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