Weekly View:For 12 Mar 2012, Mon-17 Mar 2012, Sat


S&P CNX NIFTY Future(5371.00)

Resistance: 5441-5461 / 5605 / 5664
Support: 5280 / 5220-5200 / 5127-5104

Our View: As of now it seems that, Nifty may continue its upmove from current level to nearest Resistance Band(5441-5461) and a significant break above this band (seems possible) may take nifty to 5605, if, on 11 Mar 2012, Nifty opens above 5357 level(expected)

Over All: This Week Nifty has to watch out its opening again as like previous week. if, on 11 Mar 2012, Nifty opens above 5357 levels then may rise to test Resistance band(5441-5461) and a significant break out of this band may help Nifty to resume its uptrend due to which Nifty could see 5605.

However, on the down side, if, on 11 Mar 2012, Nifty opens below 5357 level(less likely) then Nifty may continue its fall and find Support near 5280 level. A significant break out below this level(highly probable) may drag Nifty to test Support band 5220-5200 (a crucial Support band to be watched out). Last week this Support band has given good Support but this week if Nifty comes to test it again, then it may not hold and Nifty may see 5127-5104.

USDINR Future(49.805):

Resistance: 50.108 / 50.375 / 50.80 / 51.10
Support: 49.407 / 48.979 / 48.656

Our View: As of now it seems that, USDINR may fall from current level to test Support near 49.407 level, breakout of which may take the pair towards 48.979 level and if momentum builds then the pair may see 48.656.

Over All: This Week USDINR has very good Resistance near 50.108 level (may hold if tested) and Support near 50.407 level (may break). A significnt break out above Resistance near 50.108 level(less probable) may push the pair to next Resistance near 50.375 level and if upside momentum builds then the pair may see 51.15 level.

However, A breakout below 49.407 level(expected) may drag the pair down to 48.979 and further extension of fall could lead the pair to find Support near 48.656 level.

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