Rupee weakened erasing early gains as banks bought the greenback anticipating its demand from oil companies and other importers. Upward movement in rupee at opening trades was temporary as demand from oil companies is seen.
Tech View
Rupee is expected to trade flat with the trading range of 42.22-42.50.With good support seen at 42.18 levels .Key resistance is seen at 42.56 break of which will see 42.66.Currency is seen on a consolidation and is expected to give a downward correction as it has already tested the upper Bollingers but an element of caution is required as it is still above the fast moving averages.
Rupee is expected to trade flat with the trading range of 42.22-42.50.With good support seen at 42.18 levels .Key resistance is seen at 42.56 break of which will see 42.66.Currency is seen on a consolidation and is expected to give a downward correction as it has already tested the upper Bollingers but an element of caution is required as it is still above the fast moving averages.
No comments:
Post a Comment