Rupee has resistance at 50.30/50.40: Commtrendz

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According to Commtrendz Research's report on Indian Rupee, immediate supports are at 49.60/49.7 followed by 49.10/49.20. Immediate resistance falls around 50.30/50.40 followed by 50.90/51 levels.

Commtrendz Research has come out with its report on Indian Rupee MCX-SX futures, "The MCX-SX April Rupee futures opened stronger for a third day in a row today, and immediately touched a high of 50.00 on the back of gains in the Asian share markets and a weaker dollar. The Nifty futures traded in Singapore were trading more than 2.1 per cent stronger, indicating a firm starts in the local market. The Dow Jones registered a positive performance on Friday, it closed 40 points up. The BSE Sensex opened higher by 172 points and crossed the important level of 10500 after many weeks."

"Active MCX-SX INR April '09 futures closed at 50.18. Supports are now around 49.9/50 followed by 49.50/49.60. Immediate resistance falls around 50.55/50.65 followed by 51/51.10 levels. The MCX-SX April'09 Rupee futures registered an open interest of 167581 for the session. It registered an increase in volume by 9.50% over its earlier session."

"INR SPOT: Immediate supports are at 49.60/49.7 followed by 49.10/49.20. Immediate resistance falls around 50.30/50.40 followed by 50.90/51 levels."

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