Weekly View:For 9 Apr 2012, Mon-14 Apr 2012, Sat


S&P CNX NIFTY Future(5349.05)

Resistance: 5369 / 5402 / 5452
Support; 5321-5303 / 5221-5203 / 5170

Our View: As of now it seems that market may see 5452 level but may not go beyond 5452 level this week.

Overall: This week NIFTY has two levels to be watched out, one as Resistance at 5369 and another as Support band between 5321-5303.If NIFTY breaks significantly above 5369 then may rise to test Resistance level near 5452 after finding interim Resistance near 5402 level.

However, on the down side, NIFTY has good Support between 5321-5303 but a breakout below which may take NIFTY to find Support within 5221-5203 and if downside momentum builds then NIFTY may fall to 5170 level

USDINR Future(51.372)

Resistance: 51.716-51.793 / 52.288
Support: 50.719 / 50.110

Our View: As of now it seems that USDINR may see 51.716-51.793 if breaks above 51.185-51.258.

Over all: This week USDINR has to watch out the Resistance band between 51.185-51.258. A break out above which (expected), may take USDINR to test Resitance band between 51.716-51.793 and if momentum build then the pair may rise to see 52.288.

However, on the downside, if Resistance band between 51.185-51.258 holds (least probable) then the pair may find Support near 50.719 level. A breakout below 50.719, least expected but if occurs then the pair may fall to test 50.110 level.

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