Reserve bank of India meeting this week will be relevant only if it has some surprises in store. If there are no surprises, then it will be a technical trade with rupee tracking emerging market currencies most of the time.
Usd/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: 62.27 stop loss 62.16 for 62.46-62.74
- Jobbers aggressive sell below: 62.12 stop loss 62.2125 for 62.0175-61.8625
- Key resistance is at 62.6550 and only a break of 62.6550 will trigger another wave of rise. On the lower side 61.86 is the key support. There will be another wave of selling only below 61.86 or in case usd/inr does not break 62.6550 this week.
Euro/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: 70.47 stop loss 70.3425 for 70.8225-71.3250
- Jobbers aggressive sell below: 70.1225 (after 2pm IST) stop loss 70.2725 for 69.92 and 69.68
- Euro/inr needs to trade over 70.53 for 70.76-71.53. Initial support is at 70.12 with 69.68 as the key support.
Gbp/Inr February 15 (expiry on 25th February 15):
- Cable can rise to 94.2525 and 95.2950 this week as long as it trades over 92.8950. There will be a technical breakdown only below 92.8950 to 92.6725 and 91.98.
Jpy/Inr February 15 (expiry on 25th February 15):
- Yen/inr needs to trade over 52.80 this week to rise to 53.33-54.09. Initial support is at 52.60 with 52.28 as key support.
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