WISHING YOU ALL VERY HAPPY DEEPAWALI!!
USDINR
The Rupee is most likely to commence the Wednesday session between 74.60 – 74.70 levels despite greenback firming slightly early Asia as the U.S. Federal Reserve kicked off its two-day policy meeting where it was expected to announce it will begin tapering its massive asset purchases put in place at the start of the COVID-19 pandemic.
Yesterday, USDINR break support level 74.75 and drag intraday lows at 74.6725/74.6825. Now momentum is shifting towards upside sell, but we should wait for overnight for FED outcomes.
On Tuesday RBI said, the sale of stressed assets by lenders must be done at an earlier stage to allow for optimal recovery by asset reconstruction companies, a committee appointed by the Reserve Bank of India.
Indian shares ended lower on Tuesday, as losses in metal stocks and heavyweight Reliance Industries outweighed gains in automobile and realty companies. The NSE Nifty 50 index closed -0.23% at 17,888.95, while the benchmark S&P BSE Sensex -0.18% to end at 60,029.06.
Britain and India introduced a plan on Tuesday to improve connections between the world's electricity power grids to accelerate the transition to greener energy.
Day Trend: - UPSIDE SELL
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