Weekly View:For 1 Oct. 2012, Mon-6 Oct 2012, Sun


S&P CNX NIFTY 50 future (5723.00):

 Resistance 5784 / 5825 / 5858
Support: 5683 / 5604 / 5533 

Our view: As of now it seems that the NIFTY may fall to see 5604 level.

Over all: In coming week, the NIFTY has good resistance near 5784 level and is expected to hold, however a significant break out above which may target 5825 level.

On the downside, the NIFTY may fall to test support near 5683 level and a significant break below which may target 5604 level. A further extension of this fall to 5533 level is likely to occur if momentum builds.

USDINR future (53.070):

 Resistance: 53.290 / 53.785 / 54.290
Support: 52.850 / 52.395 / 51.695

Our view: As of now it seems that the USDINR may rise to see 53.785 level.

Over all: In coming week, the USDINR has good support near 52.850 level but a significant break below which may take the pair to test support near 52.395 level.

however, on the upside, the pair has resistance near 53.290 level, and a significant break above which (expected) may take the pair to test another resistance near 53.785 level.

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