Market Outlook

The rupee wiped off its initial losses and closed strong at 64.36 as the dollar dipped against a basket of currencies due to broad strength in sterling as well as worries over a possible US government shutdown after Democrats pulled out of a meeting with President Donald Trump.
The dollar, already on track for its worst month since July and its worst year since 2003, dipped 0.2 per cent against its currency basket.

Fundamental News

•    Belgium Consumer Price Index (YoY) rose from previous 2% to 2.07% in November.
•    European Monetary Union Consumer Confidence in line with expectations (0.1) in November.
•    United Kingdom Net Lending to Individuals (MoM) registered at £4.8B above expectations (£4.3B) in October.


USDINR pair has continued its southward journey and settled the session with negative note.Now, 64.3000 is crucial support level below this it can move towards deeper support level. 64.7000 act as immediate resistance.



EURINR pair has given support level break out and sustaining below its lower level, closed the day with loss.It has immediate support level of 76.3000 below this more correction can be seen. On higher side 76.7000 is resistance level.



GBPINR pair started the day with gap up opening and managed its upper level, closed the session with good gain.
For upcoming session if it holds above its resistance level of 86.7000 then upside breakout can be seen. 86.2000 is immediate support level.



JPYINR pair witness selling pressure throughout the day and closed the session near to its days low 57.7000 act as a crucial support level below this it can pull down towards next support of 57.4000 on other hand 58.1000 is good resistance zone.


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