Weekly View:For 30 Apr 2012, Mon-5 May 2012, Sat



S&P CNX NIFTY Future (5238.05)

Resistance: 5246 / 5302 / 5371
Support: 5131-5112 / 5030 / 4948

Our view: As of now it seems that the NIFTY may see 5030 in next week and further extension of fall may find ground near 4948.

Over All: In the coming week NIFTY has good resistance near 5246 level, break out above this( not expected) may target 5302 level.

However, on the down side, the NIFTY may find good Support within the band between 5131-5112 levels but a break below this band (expeceted) may push the NIFTY to see 5030 level and further build up of downside momentum (least expected but highly probable) could lead the NIFTY towards 4948 level.

USDINR FUTURE (52.882)

Resistance: 53.05 / 53.589 / 53.920
Support: 52.278 / 51.987 / 51.583

Our View: As of now it seems that the USDINR may move with the range between 52.278-53.05

Over All: In the coming week USDINR has to watch two important levels, one as Resistance near 53.05 and another as Support near 52.278. A break out above 53.05 may lead the pair to test the Resistance near 53.589 and further rise( less probable) may take the pair towards 53.920 level.

However, on the donwside,A break below 52.278 (least expected) may take the pair to test 51.987 level break out of which may show 51.583 level.

Comments

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