Rupee opened at 42.65 but weakened marginally as oil refiners stepped up dollar buying to meet end-of-month commitments.USDINR is expected to trade in the range of 43.58-43.90 levels for the day. With good support seen at 43.55 levels break of which will see 43.45 levels and key resistance is seen at 43.95 levels. Stochastic is trending down but that alone is not sufficient to show that pair has downside pressure.
Thursday, August 28, 2008
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