| Date: |
14-04-2015 |
| Subject: |
Indian Rupee may trade neutral to positive: Swastika |
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We expect the rupee to trade on a neutral to positive note against the dollar taking cues from positive industrial output data from India, positive global markets and strength in the domestic markets. However, a stronger dollar index may cap sharp gains in the rupee.
Technical Outlook: As seen on the intraday chart, USD INR is near the support at the 62.39 mark on the lower trend line. If it breaches this level on the downside, then the counter is likely to head towards the 61.97 mark. On the upside, 62.79 is an important resistance.
Source : moneycontrol.com
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