"(SPOT) NIFTY" trend wind
Last week nifty failed to close above its downward trend line that stands at around 5720 level, so in days ahead nifty will face short term resistance at 5720-5750 lvl. However its strong support stands at 5550-5580 lvl which I believe would appear as the base for nifty for this week. Hence my trading strategy would be “buy on dips” specially banking , realty, auto, fmcg and pharma stocks.
"USD/INR" trend wind
USD/INR closed at 44.30 level last week, from technical point of view which is a sign of further weakness in USD/INR I believe. USD/INR will remain weak below 44.60 level and it can retest 44.10 and 43.90 level in coming days, which ultimately will act as the major bullish trigger for indian equity market. However any closing above 44.60 may take USD/INR towards 45 level.
