Weekly View:For 27 Feb 2012, Mon-03 Mar 2012, Sat


S&P CNX NIFTY Future(5486.00)


Resistance: 5525-5540 / 5625 / 5690 
Support:      5444 / 5365 / 5242

Our View: The NIFTY may bounce back from current level(5486.00) to test Resistance band (5525-5540), expected to hold, and from there the NIFTY may continue its fall and see 5365 after taking a pause at Support level near 5444.

Overall: The NIFTY has two crucial levels to be watched out, one as a Support level near 5444 and another as a Resistance Band between 5525-5540. A significant break below 5444 may lead NIFTY towards 5365 and further extension of fall, less likely, may take NIFTY to 5242 level. On the Upside, a break out above Resistance band (5525-5540), less likely, but if then NIFTY may resume its Bull run and target 5690 level with an interim Resistance level near 5625.

USDINR Future(48.990)

Resistance: 49.090 / 49.526 / 49.860
Support:      48.698 / 48.230 / 47.446

Our View: The USDINR may move in a range between 48.698-49.090.

OverAll: The USDINR has two crucial levels, one as a Support level near 48.498 and another as a Resistnce Level near 49.090. A significant upside breakout (seems possible) may take the Pair to 49.526 and futher upside move has less possibility. On the other side, a downside breakout (less probable) may take the pair to find Support near 48.230. However, this fall could extend to next Support level near 47.446(possible if downside momentum built).

*Notes: In coming week, closing price of respective instruments on 29 Feb 2012, Wednesday(last day of current month) may change our weekly view.
If so, we will update our weekly view.

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