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.