Rupee opened higher, Dollar holding gains The Indian rupee opened - TopicsExpress



          

Rupee opened higher, Dollar holding gains The Indian rupee opened the day higher at 61.90/91 levels compared to its previous close at 62.07/08 level on general risk-on sentiment and positive stock opening. As per market players, there are enough inflows and less of outflows because oil companies are not present. Equity markets have started the October series on a flat note with positive bias. As per our previous assertion rupee seems to be heading towards 60.9550 shortly till it stays above 62.60 levels in next few sessions. The rupee may appreciate further to 61.75-61.50 levels however RSI on 4H & 1H timeframe indicates dollar is oversold and it may recover some losses later during the trading session. Intraday range for rupee may be 61.50-62.30. Trend for the day- Rupee’s positive bias to continue.
Posted on: Fri, 27 Sep 2013 07:23:47 +0000

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