Weekly View:For 14 May 2012, Mon-19 May 2012, Sat


S&P CNX NIFTY Future(4929.00):

Resistance: 4970 / 5018 / 5071 / 5125-5140
Support: 4852 / 4788 / 4726 / 4683

Our View: As of now it seems that the NIFTY may fall to test Support near 4852 level and then bounce back towards 5071 level in coming week.

Over All: This week the NIFTY has crucial Support near 4852 level. If this Support holds then the NIFTY may rise towards 5071 level after finding some Resistance near 4970 level and 5018 level.Further rise above 5071 level depends on upside momentum which could take the NIFTY towards Resistance band within 5125-5140 levels.

However, On the downside, A significant break out below Support near 4852 level (least expected) may target 4726 after taking a pause near 4788 level.

USDINR Future (53.800):

Resistance: 53.843 / 54.174 / 54.448 
Support: 53.210 / 52.936 / 52.626

Our View: As of now it seems that USDINR may find good Resistance near 53.843 level this week and then may fall to test support near 52.936 level.

Over All: This week USDINR has very crucial Resistance near 53.843 level. A siginficant breakout above this(least expected) may target 54.174 level.

However, On the downside, if Resistance near 53.843 level holds(as expected) then the pair may fall to test Support near 52.936 level after finding some Support near 53.210 level.

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