Rupee could open slightly higher taking clues from the global share indices. currency was seen trading in green as some banks may sell dollars anticipating inflows from foreign funds. Dollar sales from exporters may add to the rise in the Indian unit. However the oil companies may buy the greenback to meet their month-end requirements and hence limit a sharp rise in the rupee .
TECH VIEW
Rupee is expected to trade in the range of 40.07-40.30.With key support seen at 40.05 levels and key resistance is seen at 40.40 levels. Currency lies well above the fast moving averages confirming the bull run .Relative market index is also supporting the view.
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