Weekly View:For 10 Dec NOV 2012, Mon-16 Dec 2012, Sun



S&P CNX NSE NIFTY 50 (5926):

 Resistance: 5973-5992 / 6066 / 6148
Support: 5885 / 5811 / 5786

Our View: As of now it seems that the NIFTY may rise to test strong Resistance within the band between 5973-5992.

Over all: In coming week, the NIFTY has good support near 5885 level (expected to hold) and a significant break below which may drag the NIFTY to test another support levels for the week near 5811 level and 5786 level.

On the upside, the NIFTY may face very good resistance within the band between 5973-5992 and further rise is only possible if the NIFTY gives a significant breakout above this band.

USD INR (54.402):

 Resistance: 54.563-54.637 / 55.055 / 55.441
Support: 54.067 / 53.689-53.509/ 52.273

Our View: As of now it seems that the USDINR may fall to see 53.689-53.509 levels.

Over All: In coming week, the USDINR has good resistance within the band between 54.563-54.637 levels( expected to hold) and a significant breakout above which may take the pair to test another resistance near 55.055 level.

On the downside, the pair has mild support near 54.067 level ( expected to break) and a significant dip below which may push the pair to find support within the band between 53.689-53.509 levels


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