Only global factors and Reserve bank of India intervention (if any) can use weakness in the rupee. The next three weeks till 9th February is very crucial for the rupee from a global perspective.
Usd/inr January 15 (expiry on 28th January 15):
- There will be further sell off only if there is a fall below 61.44 or in case usd/inr does not break 62.12 by Tuesday. The region between 61.44-62.12 is a medium term anything can happen zone.
Euro/inr January 15 (expiry on 28th January 15):
- Euro/inr can rise to 73.02-75.10 (February futures) in case is able to trade over 70.84 in the next seven days. For in January series euro/inr needs to trade over 71.30 to rise to 71.77-72.00
Gbp/Inr January 15 (expiry on 28th January 15):
- Key support is at 93.02. The next wave of selling will be below 93.02 to 90.6875 and 90.2450. Only a break of 93.52 will resume the intraday bullish zone.
Jpy/Inr January 15 (expiry on 28th January 15):
- Yen/inr is overall bearish below 52.37 with 52.02 and 51.71 as key supports.
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