Rupee is expected to rise in early trade today as banks could sell dollars on hopes of dollar supplies from exporters.Banks could also avoid going long on the dollar on expectations demand for the greenback could be subdued from oil companies today. Reserve Bank of India would provide short-term funds to state-run oil companies through special open market operations.
tech view:
Rupee is expected to trade in a mixed note with the trading range of 42.10-42.37 levels. With good support seen at 42.05 levels. Break of which will see 41.90.Key resistance for the currency is seen at 42.48 levels. currency is seen trading below the fast moving average .Stochastic and RSI are seen flat and currency is trying to testing the lower Bollinger in Band analysis .
No comments:
Post a Comment