Market Outlook

The Rupee opened at 65.3500 up by 2 paisa but continuously week today made a 7th week low in early trade. But couldn’t sustain that level and sharp recovery over there and closed above it’s today’s high at 65.3400 against dollar on account of selling banks and traders. The falling in rupee is always a good for software services providers companies which receive maximum income through exports to US, Europe etc.

Fundamental News

  • United Kingdom Total Trade Balance came in at £-0.965B, above forecasts (£-2.6B) in February.
  • Current Account Balance OF Turkey above expectations ($-4.2B) in February: Actual ($-4.152B).
  • Consumer Price Index (MoM) of Portugal: 1.9% (March) vs -0.7%.
  • Retail Sales s.a. (MoM) of Italy came in at 0.4%, above forecasts (0.3%) in February.

USDINR

USDINR unable to sustain above its strong resistance level closed with partial loss. Gave false breakout on higher level and form reversal pattern on daily chart suggesting some correction in currency towards next support zone.

EURINR

EURINR found resistance on higher levels drag down and closed with negative bias. More correction is expected in currency pair if sustain below its immediate support mark. If give positive movements than 81.0000 is act as resistance for it.

GBPINR

GBPINR showed sideways movements throughout the session and closed with flat note. 93.0000 level is still act as strong resistance zone if break in upcoming session then it may continue positive movements, contrary 92.4000 is support for it.

JPYINR

JPYINR drags in last hours of the trading session and closed with negative note. If able to sustain below 61.0000 marks then it may give correction towards next support level of 60.5000. On higher level 61.3500 is resistance level.

Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *