USDINR
We are expecting USDINR commence Tuesday session between 75.00-75.10 levels despite dollar steadied bouncing off a one-month low as traders weighed the prospects of higher interest rates for different currencies and considered how coming economic data and central bank comments could impact their positions.
The Rupee could get support from domestic equity market, which seems bounce back ahead of festive session. Domestic Equity market gets halt after four day correction and emerge Morning star candlestick patter (bullish indicator).
On Monday , India's JSW Steel indicate it was investing some $20 million to set up a steel plant in Jammu and Kashmir – the second major spending announcement in as many weeks, as the Indian government pushes for development in the disputed region.
ICICI Bank Ltd , India's second-largest private sector lender, soared more than 14% to a record high on Monday, after reporting a higher quarterly profit on strong loan growth as the economy recovers from the second COVID-19 wave.
Starbucks aims to hasten its India expansion with smaller stores and drive-through outlets, the CEO of its local partner said on Monday.
Day Trend: - BUY ON DIP (Must wait for Dip)
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