Weekly View:For 26 Mar 2012, Mon-31 Mar 2012, Sat


S&P CNX NIFTY Future(5298.00):

Resistance: 5340-5350 / 5390-5408 / 5484 / 5546
Support: 5248 / 5193 / 5104

Our View: As of now it seems, the NIFTY may rise to see 5546, if it opens above 5306 on Monday, 26 Mar 2012 after finding Resistances near levels and bands as mentioned above.

Over All: This week NIFTY has to watch out its opening on Monday 26 Mar 2012. If NIFTY opens above 5306, then may see its first Resistance of the week within the Resistance band between 5340-5350. A break out above (expected) may lead to next Resistance band between 4390-5408, around which Nifty may find good resistance but a significant break out above this Resistance band (expected) may give enough strength to NIFTY upmove which may lead NIFTY to see 5546 level after facing an interim Resistance near 5484 level.

However, on the downside, if Nifty opens below 5306 on Monday, 26 Mar 2012 then may find good Support near 5248 level, a significant breakout below(least likely but possible) which  may target 5193 and then 5104 in this week.

USDINR Future(51.297):

Resistance:51.411-51.565 / 51.985-52.007
Support: 51.099 / 50.733 / 50.380

Our View: As of now it seems that USDINR may come back to test Support levels as mentioned above.

Over All: This week USDINR has good Resisance near 51.411-51.565 and a significant break above (least probable) may take the pair towards 51.985-52.007

However, on the downside, the pair has immediate Support near 51.099 and a break below (highly probable) may take the pair towards Support level near 50.733. If downside momentum built (seems possible) then the pair may see 50.380 level.

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