Indian rupee gained for a third straight session, strengthening to a one-month high against US dollar on Friday on continuous selling of the US currency by exporters and banks. Sentiments remained up-beat with a joint report by Ficci and Deloitte which stated that Indian retail industry, growing at 10 percent, may almost double to Rs 85 trillion by 2021 steered by consumer data and technology disruptions. The rupee sentiment was also boosted as the dollar slipped against other currencies overseas. On the global front, dollar tumbled to its weakest level since the start of 2015 as fading expectations of US interest-rate increases, North Korea tensions and a historically powerful hurricane unsettled investors.
USDINR
Support at 63.80 and Resistance at 64.10
Below 63.80 panic remain continue till 63.50—63.30 mark, else could touch its resistance level of 64.25
Fresh buying can be initiated above 64.10
GBPINR
Hurdle at 84.45, Above 84.45 rally remain continue till 84.80—85.0++ mark else could touch its support level of 84.00
Fresh selling can be initiated below 84.00
EURINR
Below 76.90 panic remain continue till 76.30—76.10 mark else could touch its resistance level of 77.40.
Fresh buying can be initiated above 77.40
JPYINR
Below 59.00 panic remain continue till 58.70—58.50 mark else could touch its resistance level of 59.30
Fresh buying can be initiated above 59.30
Trade with levels only.
More will update soon!!
