Market Outlook

The rupee on Tuesday opened 9 paise up at 65.33 against dollar on account of selling of American currency by banks and exporters.
The dollar got support from higher U.S. Treasury yields in early Asian trading on Tuesday, while sterling arrested a recent slide, which followed concerns about Theresa May’s ability to stay on as British prime minister. The dollar index, which tracks the U.S. currency against a basket of six major rivals, was steady on the day at 94.499.

Fundamental News

•    United States NFIB Business Optimism Index came in at 103.8, below expectations (104.2) in October.
•    Brazil Retail Sales (MoM) above forecasts (0.4%) in September: Actual (0.5%).
•    Italy Consumer Price Index (EU Norm) (MoM) meets forecasts (0%) in October.


USDINR pair opened the day with gap down but covers up its losses in early session and settled with flat note. 65.7000 is act as a major resistance level if it manages above it then more upside movement can be seen. 65.3000 is support level.



EURINR pair continued its bullish rally and settled the day with good gain.Now, 77.0000 is psychological resistance level above this it can continue its upward journey. 76.5000 is crucial support level below this some correction is expected.



GBPINR pair unable to manage its higher level pulls down and closed slightly positive.For coming session if its price sustains below support of 85.5000 then it can go towards the deeper support level.  86.1000 is good resistance mark.



JPYINR pair bounced back after testing its support level but it unable to manage its upper level came down and closed with negative note.It has important support level of 57.5000 below this some correction can be seen. 57.9000 is major resistance level.


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