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.