Rupee stayed firm against the greenback due to dollar sales from exporters. A rise in local shares raised hopes of inflows from foreign funds Lack of major dollar demand from importers also favored the Indian unit. Lack of interest from oil companies. The Indian unit also gained against the dollar in the absence of huge dollar demand from oil companies and other importers.
TECH VIEW:
Rupee is expected to trade in the range of 40.70-40.45 levels. With good support seen at 40.40 levels break of which will see 40.37.Key resistance is seen at 40.75 for the day. Stochastic and Relative strength index are giving confirmation on the down trend. But Indian unit is seen trading above the fast moving average giving an element of caution.
Rupee is expected to trade in the range of 40.70-40.45 levels. With good support seen at 40.40 levels break of which will see 40.37.Key resistance is seen at 40.75 for the day. Stochastic and Relative strength index are giving confirmation on the down trend. But Indian unit is seen trading above the fast moving average giving an element of caution.
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