Rupee recent price action seems down. As long as prices are trading Detail below the 50.10, trend is expected to remain down with immediate target in focus is 49.50. For intraday a drop below the 49.81 would be negative and would attract sell off to test next supports at 49.74/49.62 and 49.50. Although shorts must be cautious about the drop below the 50.10 which would attract buying to test next resistances at 50.23 and 50.40. Shorts must place their stops at or near 50.10. Expect price’s to trade sideways/down with focus being on the breach above the 50.10 or below 49.81.
