The positive chart pattern like higher tops and bottoms is intact as per the daily chart and Thursday’s swing high of 19,875 could be considered as a new higher top of the sequence. Hence, any decline from here could open a possibility of higher bottom formation around 19,600 -19,550 levels in the coming sessions, said Nagaraj Shetti of HDFC Securities.
Rupee hits record low of 87.35 vs USD on rate cut expectations
The Indian rupee weakened to a historic low of 87.35 against the U.S. dollar, influenced by expectations of an impending rate cut by the Reserve
February 5, 2025