Rupee has support at 50.02-49.93/$: Commtrendz

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According to Commtrendz Research's report on Indian Rupee, immediate supports are at 50.02-49.93 followed by 49.65-49.55. Immediate resistance
falls around 50.50/50.60 followed by 50.90-51.00 levels.

Commtrendz Research has come out with its report on Indian Rupee MCX-SX futures, "The MCX-SX April Rupee futures opened weaker at 50.10, lower by 21 paise from previous close but quickly strengthened to 49.98 at 9:15 am. The BSE Sensex opened higher at 11065 and was seen trading at higher at 11141 at 10:15 am. The Euro continued its downslide against the dollar on Monday due to uncertainty over policy steps that the European Central Bank
may take and due to concerns the European economy will deteriorate further. It fell to its lowest in a month against the dollar. The Dow Jones traded in a narrow trading range and closed higher by 6 points on Friday. One-month offshore non-deliverable forward contracts were quoting at 50.08/18, weaker than the onshore spot rate. Most Asian currencies were also trading weaker
against the dollar."

"Active MCX-SX INR April '09 futures closed at 50.36. Supports are now around 50.07-49.97 followed by 49.60-49.50. Immediate resistance falls around 50.75-50.65 followed by 51.10-51.20 levels. The MCX-SX April'09 Rupee futures registered an open interest of 161457 for the session.
It registered a decrease in volume by 11.37 % over its earlier session."

"INR SPOT: Immediate supports are at 50.02-49.93 followed by 49.65-49.55. Immediate resistance falls around 50.50-50.60 followed by 50.90-51.00 levels."

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