Rupee fall strongly-reached 62 dollar, down 31 paise

In Early first week of Trading, Indian Rupee has split 62 per dollar mark. Rupee has reached the level of 62, against the dollar. Today against the dollar, Rupee down strongly with 31 Paise and opens on the level of 62. Last week instead of dollar, the rupee closed at 61.69

Rupee.DownWe expect the USD-INR to trade in a range.

Instead of that, Nifty index and S&P Sensex also falls down and opens in a negative sign. CNX Nifty trade at 8562.25rs, below 98 points or a change [-1.14%]. In Nifty fifty, Axis Bank, Bharti Airtel, Cipla, Coal India, Dlf, Gail drop by -(0 to 3%). Talking about S&P BSE Sensex it fell down by -(292.39) points or a change -(1.02%) at 28425.52rs. Including HUL, ITC, NTPC, Wipro.

Kotak Mahindra Bank [BSE 0.08%] Ltd is a ‘SELL’ call with a target of Rs 1225 and a stop loss of Rs 1280.