Rupee ends marginally higher against dollar
Indian rupee pared most of its early gains but ended marginally higher against the American currency on Monday on continued dollar selling by banks and exporters. Sentiments remained optimistic with Niti Aayog Vice Chairman Arvind Panagariya’s statement that resolution of bad loans in the banking system is on right track and will open the door to rapid credit expansion and growth. Besides, good going in the domestic equity market too supported the rupee. However, gains were muted as market participants remained cautious ahead of the key consumer price inflation (CPI) data, which will be released later in the day. On the global front, dollar edged higher against yen on Monday, pulling away from last week’s near 4-month low, with rising tensions between the United States and North Korea seen as the key to the near-term outlook.
USDINR
Support at 64.10 and Resistance at 64.50
Trading in range either side breakout with volume will decide further.
GBPINR
Below 83.00 panic remain continue till 82.70—82.50 and then to 82.10 mark else could touch its resistance level of 83.30 again.
Fresh buying can be initiated below 83.30
EURINR
Support at 75.50 and Resistance at 76.00
Break and sustain below 75.50 will take it to 75.10—74.80 and then to 74.30++ mark else could touch its resistance level of 76.00 again.
Fresh buying can be initiated above 76.00 only.
JPYINR
Support at 58.00 and Resistance at 58.50
Break and sustain below 58.00 will take it to 57.50—57.30 mark, else could touch resistance level of 58.50.
Fresh buying can be initiated above 58.50
Trade with levels only.
More will update soon!!
