55.30/USD key level for rupee now: Moses Harding

Moses Harding, IndusInd Bank has come out with its market pulse weekly report for March 18-22, 2013.

''NYMEX crude completes end-to-end of set near term range of USD 89/90-94/95 and there are no strong cues to suggest break-out of this range,'' said Moses Harding, head - ALCO and economic & market research, IndusInd Bank . ''For the week, let us continue to ...

''Nifty completes end-to-end of 5,600-6,100 near short term range; down from 6,111 to 5,631 in less than 2 months and weekly close at 5,651 is bearish. The trigger is from combination of weak domestic and global cues with lack of support from domestic ...

''Gold extended its relief rally from USD 1,560 to 1,615 getting its shine back from Euro zone worries. The tone is mildly bullish for extension into USD 1,685 to retain set short term range play at USD 1,500/1,525-1,675/1,700.'' ''Market Pulse preferred ...

The Reserve Bank of India's decision to cut rates by 25 bps was largely in line with market expectations. The repo rate was reduced to 7.5% from 7.75% while reverse repo was slashed to 6.5% from 6.75%. As expected, the RBI has retained cash reserve ratio to ...

''Nifty was in volatile mood with initial fall from 5,971 to 5,791, followed by sharp recovery to 5,945 but lost steam for deeper correction into 5,861 before close of week at 5,872. The only clarity was from establishment of strong resistance at 5,925-5,975 ...

''NYMEX Crude traded to the script at set weekly range of USD 90-95; initial rally lost steam at USD 94.46 for gradual reversal into USD 90.04 before close of week at USD 90.68. NYMEX Crude is in the process of unwinding its 3 month rally from USD 84.05 to ...

''Nifty fell sharply from intra-week pre-budget high of 5,878 into pre-budget low of 5,672 before close of week at 5,719. The inability to take out 5,880 for sharp reversal below 5,750-5,800 highlights set-up of strong near term bearish momentum. There is ...

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