Weekly Analysis Report (NIFTY & USDINR) and NIFTY Trading Tips 20 MAY 2013-26 MAY 2013

** Our technical analysis is based on the data of Metatrader4, so, the data may not match with the respective values displaying on www.nseindia.com , www.MCX-SX.com  or anywhere else,so, please adjust the data accordingly and calculate values for resistance and support levels respectively.

Subscribe to get Weekly Analysis Report (NIFTY & USDINR) and NIFTY Trading Tips 20 MAY 2013-26 MAY 2013 at email ID

Read on google drive
Weekly Analysis Report (NIFTY & USDINR) and NIFTY Trading Tips 13 MAY 2013-19 MAY 2013

Last Week:


S&P CNX NSE NIFTY 50 (6102 Closing Price of MT4 data as on 10-05-2013):

Resistance: 6117-6142 / 6236
Support: 6081-6066 / 6029 / 5957

Our View: As of now it seems that the NIFTY may rise to test resistance band between 6117-6142 levels.

Overall: Incoming week,the NIFTY has good resistance within the band between 6117-6142 levels and a significant breakout above which (expected) may take the NIFTY to see 6236 level.

On the donside,the NIFTY has good supprt wihthin the band between 6081-6066 levels and a siginficant dip below which (not expected) may find supprot near 6029 level.

USDINR (54.803 Closing Price of MT4 data as on 10-05-2013):

Resistance: 55.060-55.161 / 55.495 / 55.705-55.848
Support: 54.629-54.548 / 54.19-54.081 / 53.695

Our view: As of now it seems that the USDINR may see 55.060 level.

Overall: The USDINR has broken triangle formation and if it sustains i.e. support band between 54.629-54.548 holds or the resistance band between 55.060-55.161 levels breaks significantly, then the pair may rise to test resistance near 55.495 level.  

However,on the downside, the pair has good support within the band between 54.629-54.548 levels and a significant dip below which (not expected) may drag down the pair to test next support band between 54.19-54.081 levels.

NIFTY POSITION TRADING TIPS

Profit Booked
1 Lot NIFTY-CE-6200-30MAY2013
1 Lot NIFTY-PE-5700-30MAY2013

Current holding:

1 Lot NIFTY-CE-6300-30MAY2013
1 Lot NIFTY-PE-6100-30MAY2013

Net P/L : 125.00


Disclaimer:

These trading/hedging ideas or tips or strategies, are only our views solely based on our analysis, research as well understanding and may go wrong.


Our recommendations or views or associated data, though given with the best of intentions but we are not guaranteeing any kind of accuracy related with it. They are subject to change without notice. Those acting in the market on the basis of our recommendations or views or associated data are themselves responsible for any profits or losses that might occur, without recourse to us. Trading markets are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.


We can not guarantee any kind of profit/loss incurred to you, if you are either trading or hedging or investing as per our ideas or recommendations or strategies.