Rupee has support at 49.60-49.5/$: Commtrendz

Commtrendz Research has come out with its report on Indian Rupee MCX-SX futures,"The MCX-SX April Rupee futures opened at 50.05 and rose to 49.95 at 10:20 am. Offshore one-month rates were quoting at 48.98-50.08 per dollar, slightly weaker than the onshore spot rate. The Euro traded in a narrow range against the dollar in early trade on Monday. The Nifty futures in Singapore were trading 1.0 percent higher on account of buoyant Asian equity markets, indicating a firm start in the local market. The BSE Sensex opened higher at 10916 higher by more than 100 points from its previous close. Liquidity was good with call rates trading at 3.55% at 11:30 am, as per CCIL."

"The MCX-SX April Rupee futures were trading lower at 49.975 at 4:30 pm from its 5 week highs of 49.87 on the back of some profit booking ahead of a public holiday tomorrow. The BSE Sensex closed up by 163 points from its previous close."

INR SPOT: Immediate supports are at 49.60-49.5 followed by 49.10-49.20. Immediate resistance falls around 50.30-50.40 followed by 50.90-51 levels.

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