USDINR
On Wednesday, USDINR seems to commence session between 74.90 – 75.00 levels, Domestic unit (Rupee) likely to getting support from local equity market (NIFTY, BANK NIFTY) as well as Asian currency enjoying dollar correct from year highs, but markets awaited news from upcoming central bank meetings that might spark volatility.
The Bank of Canada meets on Wednesday and the European Central Bank and Bank of Japan convene on Thursday. Next week brings meetings of the U.S. Federal Reserve, Bank of England, Reserve Bank of Australia and Norway's Bank.
India plans to pitch to companies such as Tesla Inc, Samsung and LG Energy to encourage them to invest in manufacturing batteries locally, as it looks to establish a domestic supply chain for clean transport, two government sources told Reuters. India will host five roadshows starting next month in countries including the United States, Germany, France, South Korea and Japan to convince battery makers to set up local production.
Day Trend: - BUY ON DIP
INTRADAY RANGE – 75.27(75.07 – 74.82) 74.59
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