Market Outlook

The Rupee opened at 65.1775 down by 3 paisa, made a high of 65.0650 in early trade and Rupee howering in the range of  23 paisa between 65.2900 to 65.0650 during trading hours due to dollar on increased selling of the greenback by exporters and banks ahead of the Reserve Bank of India’s first bi-monthly monetary policy meet for FY19.The dollar’s popularity among central banks did take a hit. Data from the International Monetary Fund showed that the U.S. currency’s share of global reserves dipped to a four-year low in the final quarter of 2017.

Fundamental News

  • European Monetary Union Consumer Price Index of Europe – Core (YoY) below forecasts (1.1%) in March: Actual (1%).
  • United Kingdom PMI Construction below expectations (50.8) in March: Actual (47).
  • Unemployment Italy below forecasts (11%) in Feb: Actual (10.9%).
  • China Caixin China Services PMI of came in at 52.3, below expectations (54.5) in March.



USDINR showed positive movements after negative opening closed with gain. Now, it has strong support of trendline on intraday charts if break it then continue negative movements. On higher levels 65.5000 is major resistance for it.


EURINR opened the session with negative note showed correction and closed with partial gain. Found strong support on lower levels if sustain above it then more positive movements were seen in it. Below 80.0000 it will come in bearish trend.


GBPINR open with partial gain sustain on higher levels and closed with gain. Closed around its strong resistance level if sustain above it then it may continue bullish rally, whereas below 91.5000 it may show more correction.


JPYINR after negative opening showed good recovery and closed with positive note. If continue bullish movements then immediate resistance is seen around 61.7000 above which it may give positive movements. On lower levels 61.3000 is support mark.

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Your email address will not be published.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 *