Weekly View:For 16 Apr 2012, Mon-21 Apr 2012, Sat


S&P CNX NIFTY Future(5211.00)

Resistance:  5255-5275 / 5315 / 5380
Support: 5180 / 5108 / 5057

Our View: As of now it seems that NIFTY may continue its fall and see 5100 but before that it may take a pause near 5180 level which is a crucial support level.

Over all: In coming week, NIFTY has very good Resistance within the band between 5255-5275 and a significant breakout above this(least expected) may take the NIFTY towards 5315 level. A move Beyond 5315 level (very low probability) may target 5380.

However, on the downside, NIFTY may find Support near 5180 level and a break out below( as expected) may push the NIFTY to test Support near 5100 level. If momentum builds further, then the NIFTY may find Support near 5058 level.

USDINR Future ( 51.470)

Resistance: 51.583 / 52.04 / 52.736
Support: 51.123 / 50.879 / 50.374

Our View: As of now it seems that USDINR may see 50.879 after finding some support near 51.123.

Over all: In coming week, USDINR has to watch out ts opening on monday, 16 APR 2012, which is if above 51.583 then the pair may see 52.04 level and further, if momentum build then the pair may rise to 52.736 level.

However, on the downside, if the pair opens below 51.583 level then may fall to find some support near 51.123 and a significant breakout below which may drag the pair to test Support near 50.879 level. A fall below 50.879 level, seems less likely but if, may take the pair towards 50.374 level.

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