Weekly View:For 7 May 2012, Mon-12 May 2012, Sat
S&P CNX NIFTY Future(5091.00)
Resistance: 5289-5272 / 5209 / 5160-5150
Support: 5072 / 5004 / 4964 / 4911
Our view: As of now it seems that the pair may fall to see 4911 after finding interim Support near 5004 level.
Over all: In coming week, NIFTY has good Support near 5072 and a significant break out below which may take the NIFTY to test 5004 level, a crucial Support level. Further fall below 5004 level within this week seems less probable but if then may see 4911 after taking a pause near 4964 level,
On the upside, the NIFTY has good Resistance within the band between 5150-5160 followed by another Resistance near 5209, a break out above 5209 level (not expected) may target 5272-5289.
USDINR Future(53.780)
Resistance: 53.796 / 54.056
Support: 53.559 / 52.865 / 52.616
Our View: As of now it seems that the USDINR may rise to see 54.056 follwed by a fall towards 52.865 level.
Over all: The Pair has Resistance near 53,796, a break out above may take the air towards 54.056.
However, On the downside, the pair has good Support near 53.559. A significant break below 53.559 may see 52.865 and further extension of fall may find ground near 52.616 level.
Resistance: 5289-5272 / 5209 / 5160-5150
Support: 5072 / 5004 / 4964 / 4911
Our view: As of now it seems that the pair may fall to see 4911 after finding interim Support near 5004 level.
Over all: In coming week, NIFTY has good Support near 5072 and a significant break out below which may take the NIFTY to test 5004 level, a crucial Support level. Further fall below 5004 level within this week seems less probable but if then may see 4911 after taking a pause near 4964 level,
On the upside, the NIFTY has good Resistance within the band between 5150-5160 followed by another Resistance near 5209, a break out above 5209 level (not expected) may target 5272-5289.
USDINR Future(53.780)
Resistance: 53.796 / 54.056
Support: 53.559 / 52.865 / 52.616
Our View: As of now it seems that the USDINR may rise to see 54.056 follwed by a fall towards 52.865 level.
Over all: The Pair has Resistance near 53,796, a break out above may take the air towards 54.056.
However, On the downside, the pair has good Support near 53.559. A significant break below 53.559 may see 52.865 and further extension of fall may find ground near 52.616 level.
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