A big fall in rupee was limited even as local shares tumbled as some exporters were selling dollars. Local shares fell over 5%, as sentiment was hit on news that Lehman Brothers has filed for bankruptcy-run banks were also said to be sporadically selling dollars on behalf of Reserve Bank of India.
Tech Outlook:
USDINR is expected to continue its bull rally and is expected to trade in the range of 45.80-46.00 levels .Good support is seen at 45.78 and key resistance is seen at 46.20 levels. Stochastic and momentum is only pointing towards a upward rally.
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