INR forex forecast 16 Oct 2014

INR forex forecast 16 Oct 2014

USD INR Oct. expiry future last closed at 61.61 with 30 paisa gain. In Intraday MCX-SX Dollar-rupee future hit high at 61.63 while low was 61.1. Total 53-paisa intraday range and closed with gain. For intraday above 61 rupee level keep buy on dips view.

EUR INR Oct. future last closed at 78.05 with gain of 26 paisa. In Intraday MCX-SX Euro-rupee future hit high at 78.05 while low was 77.7. Total almost 35-paisa intraday range and closed with gain. For intraday stay long with stop loss 77.7.

GBP INR Oct. expiry future last closed at 98.24 with loss of 49 paisa. In intraday MCX-SX Pound-rupee, future hit high at 98.53 while low was at 97.96. Total 57-paisa intraday range and closed with loss. Investors must follow buy and accumulate view.

JPY INR Oct. expiry future last closed at 57.73 with 61 paisa gain. In intraday MCX-SX Yen-rupee, future hit high at 57.75 while low was at 57.02. Total 73-paisa intraday range and closed with gain. For intraday expect upside target of 58.

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Pramod Baviskar

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