Market Outlook

The rupee opened 5 paise down at 64.43 against dollar amid a caution ahead of the RBI monetary policy decision. The local currency on Tuesday closed almost flat at 64.38 against the US dollar. The RBI, meanwhile, fixed the reference rate for the dollar at 64.3764.
The dollar edged broadly lower in a quiet market on Wednesday as concerns about a possible U.S. government shutdown offset optimism about progress on tax reform legislation.

Fundamental News

•    South Africa Business Confidence Index increased to 95.1 in November from previous 92.9.
•    India RBI Interest Rate Decision (Repo Rate) in line with forecasts (6%) in December 6.
•    Switzerland Consumer Price Index (YoY) registered at 0.8%, below expectations (0.9%) in November.


USDINR pair opened with positive biasn and hovered near to its higher level, settled the day with bullish note.
Now, 64.8000 is act as major resistance level above this it may take more upward movements. 64.4000 is immediate support level.



EURINR pair witness range bound movement throughout the day and closed the session with weakness.For upcoming session if it sustain below its crucial support level of 76.3000 then down side movement can be seen. 76.7000 is resistance level.



GBPINR pair unable to manage its higher level and came down, closed the session with negative bias. It has immediate support level of 86.3000 below this selling can be expected. On lower levels 87.0000 is act as major resistance.



JPYINR pair continued its northward journey and closed the session with good gain,Now, 57.9000 is good resistance level above this upside breakout can be seen towards next resistance zone. 57.4000 is major support mark.


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