Indian markets witnessed a volatile week affected by domestic concerns and euro zone crisis and weakening of rupee further dampened the market sentiments. Nifty future is facing the crucial level of 4950 crossing which it is expected to move towards the 200 day SMA of 5080. While if it remains below the level of 4950 then 4830 is seen as strong support in the coming sessions. Amid volatility is expected to occur as per F&O expiry in the coming week.                 
   
Major Market News –
Sensex posts weekly gain of 65 points; Nifty regains 4,900 mark.
Euro falls to near 2-yr low as Greece, Spain weigh.
RBI buys $2.02 billion rupees of bonds via OMO.
Bharti Airtel acquired a 49 percent in Qualcomm's broadband wireless entities.
BPCL Q4 net jumps multi-fold, bonus share drives stock.
Crompton Greaves Q4 earnings plunge 61% as margins drop.
ITC Q4 profit climbs 26%.

CALLS OF THE WEEK –

INFY FUT              BUY      ABOVE 2400 TARGETS 2470-2540 SL 2310.
HINDPETRO    SELL      BELOW 298 TARGETS 290-280 SL 308.50.
LAST UPDATE          TCS SELL CALL NOT EXECUTED.
LAST UPDATE          SESAGOA BUY CALL SL TRIGGERED.
TECHNICAL VIEW –

ASIANPAINTS FUTURE HAS BEEN MOVING IN UPWARD CHANNEL PATTERN AND IS CONSOLIDATING NEAR THE LEVEL OF 3788.
BUY ABOVE 3788 TARGETS 3880-3990 SL 3670.

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Markets ended the range bound session on a flat to positive note. Nifty future was able to maintain above 4900 for most part of the session and closed above this level. If it is able to hold above this level then for the coming session we expect it to move in the range of 4950-5000 while 5030 will act as strong resistance for it. On lower side, 4875 can act as strong support for it. But, on surpassing this support next stop is seen around 4820.

TREND: SIDEWAYS
SUPPORT      : 4875 & 4820                  RESISTANCE:  4980 & 5030

Major Market News –
Sensex flat; Mid and small-caps outperform.
Capital goods, metals, realty up.
ITC Q4 profit climbs 26%.
Crompton Greaves Q4 earnings plunge 61% as margins drop.
BPCL Q4 net jumps multi-fold, bonus share drives stock.
Voltas spurts over 8% on robust Q4 numbers.

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CHANA JUNE : SIDEWAYS

RESISTANCE 2 : 4290
RESISTANCE 1 : 4240
SUPPORT 1 : 4150
SUPPORT 2 : 4080

JEERA JUNE : SIDEWAYS

RESISTANCE 2 : 13730
RESISTANCE 1 : 13550
SUPPORT 1 : 13360
SUPPORT 2 : 13180

SOYABEAN JUNE : DOWN

RESISTANCE 2 : 3450
RESISTANCE 1 : 3400
SUPPORT 1 : 3350
SUPPORT 2 : 3300

PEPPER JUNE : UP

RESISTANCE 2 : 41500
RESISTANCE 1 : 40700
SUPPORT 1 : 39800
SUPPORT 2 : 39300
 

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GOLD JUNE : SIDEWAYS

RESISTANCE 2 : 29300
RESISTANCE 1 : 29175
SUPPORT 1 : 28850
SUPPORT 2 : 28700

SILVER JULY. : SIDEWAYS

RESISTANCE2 : 55650
RESISTANCE1 : 54800
SUPPORT1 : 53450
SUPPORT2 : 52800

COPPER JUNE. : SIDEWAYS

RESISTANCE2 : 432
RESISTANCE1 : 429
SUPPORT1 : 424
SUPPORT2 : 421

CRUDE JUNE. : SIDEWAYS

RESISTANCE2 : 5180
RESISTANCE1 : 5120
SUPPORT1 : 5000
SUPPORT2 : 4960
 

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Markets opened flat to positive and strong European opening further supported for strength of the markets. Nifty future resisted near4930 and then drifted towards the support of 4880. Finally, it settled below 4900 @ discount of 12 points. If it remains below the crucial mark of 4900 then it may slip towards the support of 4820 while next supports seen around 4765. On higher side, 4950 is seen as strong resistance crossing which next hurdle is seen around 5000.

 

TREND: SIDEWAYS

 SUPPORT: 4820 & 4765              RESISTANCE: 4930 & 4990

 Major Market News –

Sensex gains further ground on strong European stocks.
Adani Enterprises consolidatedQ4 profit falls 66.7%.
Coal India Q4 profit falls 11.71%.
C & C Constructions bags order worth Rs 1.67 bn.
RINL to reserve 10% of offering for employees.
Reliance Capital jumps 6% postQ4 results.
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CHANA JUNE : SIDEWAYS

RESISTANCE 2 : 4160
RESISTANCE 1 : 4200
SUPPORT 1 : 4300
SUPPORT 2 : 4365

JEERA JUNE : SIDEWAYS

RESISTANCE 2 : 13900
RESISTANCE 1 : 13700
SUPPORT 1 : 13400
SUPPORT 2 : 13270

SOYABEAN JUNE : SIDEWAYS

RESISTANCE 2 : 3550
RESISTANCE 1 : 3500
SUPPORT 1 : 3400
SUPPORT 2 : 3360

PEPPER JUNE : UP

RESISTANCE 2 : 41500
RESISTANCE 1 : 41000
SUPPORT 1 : 39800
SUPPORT 2 : 39300

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GOLD JUNE : UP

RESISTANCE 2 : 29300
RESISTANCE 1 : 29100
SUPPORT 1 : 28770
SUPPORT 2 : 28600

SILVER JULY. : SIDEWAYS

RESISTANCE2 : 56000
RESISTANCE1 : 55250
SUPPORT1 : 54000
SUPPORT2 : 53200

COPPER JUNE. : DOWN
 
RESISTANCE2 : 425
RESISTANCE1 : 422
SUPPORT1 : 418
SUPPORT2 : 415

CRUDE MAY. : SIDEWAYS

RESISTANCE2 : 5085
RESISTANCE1 : 5050
SUPPORT1 : 4960
SUPPORT2 : 4900

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The rupee continued its descent to a new low as investors rattled by the shaky euro zone shifted funds to the safe havens of US and German treasuries while the central bank said it would act only when there could be some impact. Corporate India has been clamouring for aggressive intervention by the central bank, which is hesitant to do so since the decline could be more due to global factors, with almost all currencies losing value to the US dollar. Economists and traders have been suggesting that the government route payments for oil imports through forex reserves to cushion the market impact.

Major Market News –
Rupee sinking but RBI to act when it will have some impact.
Rupee fall unlikely to drive up inflation risks.
Yuan ends down as dollar gathers strength in Asian trade.
Sterling hits 2-month low vs dollar on Greece, Spain concerns.

USDINR –
USDINR made a lifetime high last week and for the coming sessions 53.8700 is seen as immediate support and better strategy in the coming week is to buy on dips for the targets of 55.0000-55.5000. On lower side, 53.1225 will act as strong support for it.

EURINR –
EURINR on its daily charts has formed a triangle pattern and is expected to give a breakout on lower side. If it sustains below the support of 68.9200 then it looks weak and may plunge towards 68.0000. On higher side, 70.1700 is seen as strong resistance.
INTERNATIONAL UPDATES –
Euro Drops Versus Dollar, Yen On Greece Crisis Contagion Concern.
Traders Boost Wagers Against Euro To Record.
Brazil Real Drops To Three-Year Low, Pares Decline As Swaps Sold.
Canada Currency Tumbles As Europe Crisis Overshadows Data.

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MCX Copper last week showed downward trend form a channel pattern on weekly chart and found support around lower band of channel i.e. 417. Now if it break 414 then next support is seen around 407. On other hand if it is not able to break 414 then give correction towards level of 428.
S T R A T E G Y

Better strategy in the MCX COPPER will be sell below 414, with the stop loss of 425 for the targets of 405.

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Crude Oil last week took support of 5040 and consolidate around this level if break this then it may find support of 4900. For higher level 5150 is act as resisatance for it if gives closing above this then only we expect some correction in it towards the level of 5350.
S T R A T E G Y

Better strategy in MCX CRUDEOIL is to sell below 5040 for the targets of 4950. With stop loss of 5180.
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