rupee December futures outlook for 28 nov 2014

rupee December futures outlook for 28 nov 2014

Usd inr future of December expiry today closed at 62.19 with loss. For tomorrow outlook for rupee will remain bullish as oil is dropping to fresh low and FII dollar inflow can push rupee buying. On downside 61.8 is strong support and expect bounce back from there. For short sellers 62.35 is stop loss for intraday.

Euro rupee dec. future closed at 77.58 with gain. As euro recovering we seen bounce back. Here stay short with stop loss of 78 as strong rupee and tumbling rupee may show significant drop in intraday.

Pound rupee future closed at 97.88 with gain. We have seen significant profit booking today which may continue tomorrow. Traders can stay short with stop loss of 98.35 for 50-60 paisa downside target.

Yen rupee future closed at 52.99 with gain. Here traders below 53.5 use major rallies to sell and expect fresh low level in medium term. On monthly charts 48 is major support and might be target for next 2-3 month spheroid.

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Pramod Baviskar

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