The Indian opposition parties have clearly started its intention of not making life easy for the National Democratic Alliance (NDA) in the Rajya Sabha. The month long Indian parliament session will begin from today. Key legislative bills needs to be passed in the Rajya Sabha including the Insurance bill. Traders will taking for next week’s Reserve bank of India meet. Speculation whether interest rates will be cut or not will affect the rupee.
Chinese interest rate cut will be bullish for rupee.
Usd/inr December 2014 (expiry on 29th December): It needs to trade over 62.07 today to rise to 62.3225 and 62.47. There will be sellers only below 62.07 with 61.87 as the key support.
Euro/inr December 2014 (expiry on 29th December): There will be another wave of selling below 76.87 to 76.62 and 76.39. Euro/inr needs to trade over 77.12 to be in intraday bullish zone and attract short covering.
Gbp/Inr December 2014 (expiry on 29th December): It needs to trade over 97.52 to rise to 97.79-98.39. There will be sellers only if cable trades below 97.22 in UK session.
Jpy/Inr December 2014 (expiry on 29th December): It can rise to 53.18 and 54.12 this week as long as it trades over 52.45. There will be another wave of selling only below 52.45.
Chinese interest rate cut will be bullish for rupee.
Usd/inr December 2014 (expiry on 29th December): It needs to trade over 62.07 today to rise to 62.3225 and 62.47. There will be sellers only below 62.07 with 61.87 as the key support.
Euro/inr December 2014 (expiry on 29th December): There will be another wave of selling below 76.87 to 76.62 and 76.39. Euro/inr needs to trade over 77.12 to be in intraday bullish zone and attract short covering.
Gbp/Inr December 2014 (expiry on 29th December): It needs to trade over 97.52 to rise to 97.79-98.39. There will be sellers only if cable trades below 97.22 in UK session.
Jpy/Inr December 2014 (expiry on 29th December): It can rise to 53.18 and 54.12 this week as long as it trades over 52.45. There will be another wave of selling only below 52.45.
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