Market Outlook

The Rupee opened at 66.7600 up by 20 paisa but not sustains on higer level and made a low of 67.0500 and moved between 66.8500 and 67.0500 in today’s trading hour against the Dollar. The Rupee closed at 66.8775 up by 10 paisa from previous close of 66.9500.

Overall, sentiment remained subdued due to a gradual increase in crude oil prices, stirring up more concerns over a widening trade deficit. The dollar slides although it remained above the 91 mark.

Fundamental News

  • Consumer Price Index (MoM) of Belgium climbed from previous 0.14% to 0.3% in April.
  • Retail Sales (YoY) of Ireland is down to -2.8% in March from previous 2%.
  • Monetary Union Consumer of Europe Confidence above forecasts (-0.1) in April: Actual (0.4).

USDINR open with negative bias showed correction and closed with flat note. Currency sustained below its resistance mark expected to give more correction and may find support around 66.7000. On higher side 67.2000 is resistance mark.

 

EURINR open with negative bias showed bearish movements and closed with loss. Currency pair trades around its support zone if able to break in upcoming session than more downward movements were seen in it. 81.4000 is immediate resistance for it.GBPINR showed negative movements throughout the session closed around its support. Now, 92.0000 is next support level if continue bearish movements than this level is act as haulting point. 92.7000 is act as resistance level.

JPYINR open with partial loss found support on lower levels closed in red. For upcoming session 61.5000 is immediate resistance mark for it if sustain above it than find next resistance around 61.7000. On lower levels 61.2000 is support level.

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