Weekly View:For 30 Jul 2012, Mon-4 Aug 2012, Sat


S&P CNX NIFTY 50 future (5132.00):


Resistance:5155-5165 / 5215 / 5304
Support:5082 / 5027 /  4960

Our View: As of now it seems that the NIFTY may rise to see 5215 after finding some resistance within the band between 5155-5165 levels.

Over all: In coming Nifty has good Resistance within the band between 5155-5165 levels and a siginficant break out above which may target 5215 and this rise may further extend to 5304 level if momentum builds.

However, on the downside, the NIFTY has good support near 5082 level, which is expected to hold if NIFTY falls to test it.

USDINR future (55.627):

Resistance: 55.906 / 56.612
Support:55.559 / 54.649 / 53.995

Our View: As of now it seems that the USDINR may fall to see 54.649 level.

Over All: In coming week the USDINR has good resistance near 55.906 and a break out above is not expected.

However, on the downside, the pair has good supoort near 55.559 level and a siginificant break our below which may target 54.649 This fall may extend to 53.995 level, if downside momentum builds.

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