Weekly View:For 25 Jun 2012, Mon-30 Jun 2012, Sat


S&P CNX NIFTY future (5155.25):

Resistance: 5233 / 5324 / 5389
Support: 5109 / 5020 / 4969

Our view: As of now it seems that the Nifty may see 5324 after finding some resistance near 5233 level.

Over all: In coming week, the Nifty has good support near 5109 level and a mild resistance near 5233 level.A break out above 5233 level may take the Nifty to test 5324 level and this rise could extend to 5389, if momentum builds.

However, on the downside, if the Nifty breaks below 5109 level (less probable) then may fall to find ground near 5020 level. A further fall is least expected.

USDINR future (57.290):


Resistance: 57.858 / 58.332
Support: 57.158 / 56.486 / 56.082

Our View: As of now it seems that the USDINR may fall to test 56.082 level after finding some support near 56.486 level. 

Over all: In coming week USDINR has support near 57.158 level, a crucial level and needs to be watched out, and if the pair breaks below this then it may to test 56.486 level. This fall could extend to 56.082, if downside momentum builds.

However, on the upside, if the Support near 57.158 holds then the pair may see 57.858 level.

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