Weekly View:For 24 Sept. 2012, Mon-30 Sept 2012, Sun


S&P CNX NIFTY 50 Future (5710.00):

 Resistance: 5750 / 5796 / 5870 
Support: 5678 / 5623 / 5520

Our View: As of now it seems that the NIFTY may rise to test resistance near 5750 level and then fall back to test support near 5623 level.

Over all: In coming week, the NIFTY has good resistance near 5750 level and a significant break out above which may target 5796 level.

However, on the downside, the NIFTY has support near 5678 level and a siginficant dip below which may target 5623 level and if momnetum builds, then the NIFTY may extend its fall to test support near 5520 level.

USDINR future (53.485):

 Resistance: 53.714 / 54.247 / 54.506
Support: 53.238 / 52.808 / 52.432

Our View: As of now it seems that the USDINR may rise to see 54.247 level.

Over all: In coming week, the pair has to watch out a crucial resistance level near 53.714 level and a siginificant break out above which may take the pair to test another Resistance level near 54.247 level.

However, on the downside, the pair has good support near 53.238 level, a siginificant dip below which ( not expected) may find support near 52.808 level.

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