Weekly Outlook

In the wake of Mr. Bernanke's outlook on scaling down the QE3, market nervousness
has been soothed.    But how long?

Locally, IIP data for June at -1.6% and CPI for June at 9.87%  look dismal.    Markets
on Monday may not receive the data well.
Trade deficit narrows to $12.24 billion for June versus $20.14 billion for May.
INR may see some respite.

                                            Nifty
Resistance    2          :           6090
Resistance    1          :           6075
Support         1          :           5940
Support         2          :           5890

Outlook                    :            Stable