USDINR
On Monday, The Rupee is most likely to commence a fresh week between 74.10 – 74.15 against the greenback which corrected from one-year highs as yields subdued from higher levels.
On Friday India's merchandise trade deficit in September was $22.94 billion, preliminary data released by the government showed. India's merchandise exports rose $33.44 billion for the month from $27.56 billion in the same period last year, while imports rose $56.38 billion in September from $30.52 billion last year.
Reliance Industries on Saturday had set up a wholly-owned subsidiary in the United Arab Emirates for trading in crude oil, petroleum, petrochemical products and agricultural commodities.
Indian utilities are scrambling to secure coal supplies as inventories hit critical lows after a surge in power demand from industries and sluggish imports due to record global prices push power plants to the brink.
Over half of India's 135 coal-fired power plants have fuel stocks of less than three days, government data shows, far short of federal guidelines recommending supplies of at least two weeks.
Day Trend: - BUY ON DIP (Trend changing, confirmation will come after break 74.07 n settled bellow)
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