India Rupee was seen Flat on lack of fresh cue as banks avoided taking big dollar positions Rupee is likely to remain steady for some more days as there is no specific direction from overseas stock indices currency is expected to move in a narrow range until the RBI policy . Dollar demand from oil companies is expected to limit any sharp rise in rupee.
technical for the day
Rupee is expected to be in the narrow range of 39.88-40.00.With good support seen at 39.85 and 39.82. key resistance for the currency is seen at 40.05 levels. Currency is seen trading on the fast moving averages and the Relative Market strength index is also seen flat indicating a narrow trade.
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