S&P CNX Nifty for the week 2nd January 2012 to 6th January 2012.

If Nifty trades below the 4620 mark on good volumes and for longer time in the coming sessions, then the immediate support is at 4577. If the 4577 mark is breached, then fresh supply may emerge leading to deeper losses with Nifty touching 4447 levels and then 4295. However if it trades above the 4660 mark for longer duration, short covering may lead it up to 4725 mark.Traders with medium term horizon are advised to do staggered buying in key index stocks  at deep negotiations. Please do not rush to buy at available rates.

USD-INR technicals for 28 December 2011.

The USD-INR has turned weak once again but 53.5779 should act as a strong support beyond which fresh shorts will be initiated leading to new all time lows on the downward journey . The immediate resistance is at 52.96 and then at 52.7188. The outlook on currency continues to be weak.

S&P CNX Nifty for 28th December 2011.

Nifty may see some profit booking and weakness if it trades below the 4730 mark on good volumes and for longer time. Immediate supports are at at 4675 and 4620. However if it trades above the 4760 mark for longer duration, a fresh spike may lead it upto 4807 mark which is a strong resistance- longs may see unwinding at this point. If 4807 is conquered then 4865 will act as a resistance and then to 4895.

S&P CNX Nifty for 27th December 2011.

The market was roaring today albeit on thin volumes. If the Nifty sustains above the 4775 mark on 27th December conclusively, fresh trades may be initiated with 4710 as strict stop loss. However 4865 will act as a resistance, which if conquered will lead Nifty to 4895. On the flip side however, consistent trades below the 4710 mark will see nifty at 4675 and 4620.

USD-INR technicals for the week 26 December 2011 to 30 December 2011.

If the USD-INR remains above the 52.95 mark, it will be weak with immediate support at 53.57 but if it breaches the 53.57 mark, new all time lows are expected as the downward journey may continue. The immediate resistance is at 52.31 and then at 50.73. Fresh longs may be initiated only when it will trade  below 48.60 conclusively, otherwise the outlook on currency continues to be weak.

S&P CNX Nifty for the week 26th December 2011 to 30th December 2011.

 If the nifty  trades conclusively above 4738 mark it may see a further up move upto 4800 and then 4920. Immediate support is at 4709.  However, if the 4690 level gets breached on the downside then the immediate support exists at 4610. Fresh supply may emerge below 4610.

USD-INR technicals for 23 December 2011.

Above the 52.90 mark the USD-INR will continue to be weak. However it will be strong once it trades below the 52.33 mark conclusively.

S&P CNX Nifty for 23rd December 2011.

Market closed on a bullish note yesterday but only if the Nifty sustains above the 4750 mark conclusively, can it rally up to 4880. 4690 should act as a support for further up move. However nifty will turn weak below 4610.

S&P CNX Nifty for 22nd December 2011.

If the Nifty sustains above the 4750 mark conclusively, it can rally up to 4880. However, if it fails to hold above the 4595 mark, we may see further losses.

USD-INR technicals for 22 December 2011.

The USD-INR closed yesterday on a bullish note but it will be strong only once it trades below 52.31 mark. Immediate resistance will be at 52.08 and then 50.73.

USD-INR technicals for 20 December 2011.

As long as the USD-INR is above the 52.31 mark, the Indian currency will continue to be weak. The immediate support is at 53.25 and then at 53.65. If 53,65 level is breached then the currency may see new lows.

S&P CNX Nifty for 20th December 2011.

If the Nifty does not sustain above the 4595 mark tomorrow then the immediate support is at 4577. If the 4577 mark is breached, then fresh supply may emerge leading to deeper losses with Nifty touching 4447 levels and then 4295. Deep negotiations are advised for mid term investors in key index stocks as some hedge fund seems to be resorting to portfolio seling. Please do not rush into buying at available rates.

USD-INR technicals for the week 19 December 2011 to 23 December 2011.

As long as the USD-INR remains above the 52.86 mark, it will be weak but once it breaches the 53.57 mark, new all time lows are expected as the downward journey may continue. However below the 52.31 mark it may test 50.73. Fresh longs may be initiated only when it will trade  below 48.60 conclusively, otherwise the outlook on currency is weak.

S&P CNX Nifty for the week 19th December 2011 to 23rd December 2011.

Nifty ended last week on a subdued note at 4651.6 after supply emerged in key index stocks during the latter half of Friday session. If the nifty does not trade conclusively above 4740 levels the supply may increase leading into further carnage and mayhem.  If the 4580 level gets breached on the downside then the immediate support exists at 4447 and then at 4295. Tough bargains in key index stocks is advised for mid term investors. However a technical bounce cannot be ruled out in which case if the market holds above 4740, a bout of short covering may take it to 4800 and then up to 4920.

Hard landing in China?

The credit bubble in China seems to blow up as the new home prices fell in Beijing by 35% in just a month. In August the construction firms reported $50 billion dollar worth of unsold inventories. In Shanghai too the prices have fallen by 25% this month.In the inland city of Changsa the property sales have gone down by 70%. The prices have dropped 70% in Ordos in inner Mongolia.

INR hits a new low.

A scramble for dollars saw the rupee slump to an all-time low of 53.35 to the dollar today. The interest rate was raised 13 times in the last 20 months, steepest hike in the whole world, to control inflation which has been above 9% throughout the year. Given the way policy makers are behaving and the large current account and fiscal deficits, India seems to be heading for the worst  financial crisis in decades. Sharp devaluation, as sharp as that of 1991, seems to become a reality soon.

The Eurozone crisis.

The ECB and Germany are both bent on austerity measures where as the root of the crisis lies in the balance of payments crisis in the Eurozone. No matter what formula the two may workout the financial crisis will only worsen till the ECB and Germany cast aside their proclivity towards austerity drives and recognise and address the balance of payments crisis. Hope Germany wakes up and casts aside it's moralizing dictum before it's too late.

S&P CNX Nifty for the week 12th December 2011 to 16th December 2011.

Nifty ended the week on a bearish note. However, if the nifty trades above the 4935 mark in the opening trades, a technical bounce back may see it go up to 5000 which if conclusively conquered may see another bout of short covering taking it to 5109 and beyond. However, on the downside if 4814 is breached conclusively then all short term longs may be exited. The support thereafter lies at 4756 and then at 4675.

S&P CNX Nifty for the week 5th December 2011 to 9th December 2011.

                      The market closed on a  bullish note at 5050.15 last week. If the Nifty trades consistently above the 5110 mark with good volumes, a short term uptrend can not be ruled out in the immediate term which may take it to 5170 and then to 5296 levels. Support lies at 4900. Traders are advised to trade long with strict stop loss at 4800. Profits may be booked partially above 5100 levels. It may be kept in mind that next week is a truncated week on account of holiday on 6th December2011.