MCX-SX INR February’09 futures closed the week towards 48.7025, stronger by 0.30% from Thursday. Important supports still exist between 48.40/48.50 followed by 47.85/48.00 range. Resistance is at 48.95/49.10 followed by 49.40/49.50.
The active month MCX-SX Feb’09 Rupee futures registered an open interest of 165075. It witnessed a rise in volume by 21.52%. MCX-SX March’09 Rupee futures closed towards 48.7925.
INR SPOT: Supports are still holding between 48.40/48.50 levels. A close below these levels could see some further strength to test next support levels 48/48.10. Immediate resistance is at 48.90/95 followed by 49.30/40 (Being the horizontal line as seen in the chart). Only a close above which could see weakness coming in the near term towards next resistance range of 49.90/50.
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