USDINR
On Wednesday, USDINR most likely to commence session between 74.60 – 74.70 levels as the greenback was firm on early Asian session after a rip higher in U.S. yields vaulted it up sharply on the euro overnight, putting it back above support levels that have held for the past few months in anticipation of rising U.S. interest rates.
Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates.
Jet fuel consumption is rising with growth in international flights, while road traffic is much higher than at the same time last year
On Tuesday, India's blue-chip Nifty 50 index fell the most in a month as investors dumped high-flying automakers, IT firms and metal producers in a rout triggered by worries over faster tightening of monetary policy globally.
Day Trend: - BUY ON DIP
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