Weekly Analysis Report NSE NIFTY and USD INR (25-Feb-2013 to 03-Mar-2013)

NIFTY 50 (MT4 chart)

S&P CNX NSE NIFTY 50 (5851):

Resistance: 5871/ 5916 / 5966
Support: 5822-5806 / 5758

Our View: As of now it seems that the NIFTY may continue its fall and see 5822-5806 levels.

Overall: Incoming week,Nifty has good support within the band between 5822-5806 levels and a significant dip below which (not expected) may target 5758 level.

On the upside,the NIFTY has good resistance near 5871 level and a breakout above which may take the NIFTY to test another good resistance near 5916 level.

INRUSD (MT4)
USDINR(54.276):

Resistance: 54.335 / 54.795 / 55.172
Support: 54.001 / 53.850 / 53.563

Our View: As of now it seems that the pair may rise to test resistance near see 54.795 level.

Over all: In coming week,the USDINR has to watch out its opening as if it opens above 54.335 level(expected) then may see 54.795 levels whereas, if opens below the said level, then may fall to find support near 54.001 level.

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