Market Outlook

The rupee on Thursday opened 11 paise up at 64.78 against dollar on account of selling of American currency by banks and corporate. The dollar traded near a three-month high against the yen on Wednesday, underpinned by reports that Republican senators were favouring John Taylor to become the next head of the US Federal Reserve. The dollar climbed 0.2 per cent against a basket of major currencies, close to its highest levels in three weeks.

Fundamental News

•    Turkey TCMB Interest Rate Decision in line with expectations (8%) in October.
•    United Kingdom CBI Distributive Trades Survey – Realized (MoM) below forecasts (15%) in October: Actual (-36%).
•    South Africa Producer Price Index (YoY) came in at 5.2%, above forecasts (4.9%) .

USDINR

USDINR pair show some recover in morning session but unable to hold higher and came down, closed with negative biasness. It has 64.9500 as support level below this it can go towards deeper support. 65.2500 is immediate resistance level.

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EURINR

EURINR pair unable to manage its upper level and drag down settled the day near to its day low.Now 76.7000 is support level if its price sustains below this then more selling can be seen. 77.1500 is important resistance level.

2

GBPINR

GBPINR pair pull down from its higher level and follow its down ward rally, closed the day with loss.85.8500 is immediate support mark below this it can move towards next support zone. 86.4000 is major resistance.

3

JPYINR

JPYINR pair showed sideways to bearish movement throughout the day, settled the day with weakness.
For upcoming session if its price sustain below 57.1500 then correction can be seen and northern side 57.5000 is resistance level.

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