Reserve bank of India meet tomorrow will be the key. On the global front US may employment numbers and European central bank meeting are the key. The stance on interest rate will be the key. This weeks parliament session could just give us a hint of things to come. RBI has allowed banks to do proprietary trades. This move will ensure that the rupee does not appreciate very swiftly. There are huge short positions in the rupee. Day traders need to be careful going short despite the downward momentum
Usd/inr June 2014: Key intraday support is at 59.00 and as long as usd/inr trades over 59.00 it can rise to 59.76-60.12. There will be sellers only if usd/inr does not break 59.76 or falls below 59.00
Euro/inr June 2014: It needs to trade over 80.90 to target 81.16-81.76. Initial support is at 80.90 and there will be sellers only below 80.90 today
Gbp/Inr June 2014: Key resistance is at 99.88 and a break of 99.88 will result in 101.02 Support is at 99.01 and there will be sellers only below 99.01
Jpy/Inr June 2014: It needs t0 trade over 58.05 to target 58.56-58.88. There will be sellers only below 58.05 today.
Usd/inr June 2014: Key intraday support is at 59.00 and as long as usd/inr trades over 59.00 it can rise to 59.76-60.12. There will be sellers only if usd/inr does not break 59.76 or falls below 59.00
Euro/inr June 2014: It needs to trade over 80.90 to target 81.16-81.76. Initial support is at 80.90 and there will be sellers only below 80.90 today
Gbp/Inr June 2014: Key resistance is at 99.88 and a break of 99.88 will result in 101.02 Support is at 99.01 and there will be sellers only below 99.01
Jpy/Inr June 2014: It needs t0 trade over 58.05 to target 58.56-58.88. There will be sellers only below 58.05 today.
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