Weekly View:For 19 Mar 2012, Mon-24 Mar 2012, Sat


S&P CNX NIFTY Future(5334.55):

Resistance: 5347 / 5399-5420 / 5597
Support: 5290 / 5200 / 5110-5090

Our view: As of now it seems that NIFTY may take a dip towards Support band 5110-5090 in coming week. However, NIFTY has crucial Support near 5290 level (a significant break out below 5290 level would confirm our view for the coming week).

Over All: This week NIFTY has two crucial levels to be watched out, one as Support near 5290 level and another as Resistance near 5347 level. As expected, if NIFTY breaks below 5290 level then may find some Support near 5200 level and further extension of this fall may drag the NIFTY towards Support band 5110-5090(seems Possible).

However, on the upside, NIFTY has crucial Resistance near 5347 and if it breaks (less probable) then NIFTY may rise to test Resistance band 5399-5420. Break out of this band( less probable) may give enough strength to NIFTY to see 5597 level.

USDINR Future(50.165):


Resistance: 50.435 / 50.748 / 51.085-51.200
Support: 49.796 / 49.514 / 48.755

Our view: As of now it seems that the pair may continue its up move in coming week and may see 50.748 level which could further rise to test Resistance band 51.085-51.200.

Over All: This week USDINR has good Support near 49.796, a significant break out  below which (less probable) may find Support near 49.514 level. A less probable break out of Support near 49.514 may push the pair towards 48.755.
However, on the upside,the pair has Resistance near 50.355 and breakout above which (seems possible) may find Resistance near 50.748 level. Further extension of the rise, if momentum built, may take the pair towards Resistance band51.085-51.200

Comments

Post a Comment

Popular posts from this blog

How To Save Tax up to Rs. 12,00,000 (12 Lakhs) , India

The Budget has made no significant change for Tax Rates for Individuals. The Individuals who earn income of Less than 5 Lakhs rupees will get Rs 5000/- as Tax rebate under section 87A. There is increase insurcharge on income tax levied on individuals earning income of Rs 1 crore or more from 12 per cent at present to 15 per cent. This move is aimed at taxing the rich. The Middle Class always pay effective more tax including indirect taxes and have to plan their retirement and savings at the same time save on overall tax outgo. The Article gives you brief idea on how to save tax and at the same time make proper investment and cover insurance and Medical expenses risk. 1.Investment in 80C for Purpose of taking full benefit of 1,50,000 Deduction under 80C is related to deduction that an individual can deduct from his gross taxable income in order to reduce his tax liability by investing in specified investment. It is applicable to individuals and HUF. An assessee can get deduction under
Read more