1. Nifty is hovering around 8900 levels for now and shall be facing resistance at the 9000 handle. Longs initiated earlier (Friday) could be maintained with strict stops. Please note that a failure at 9000 levels could turn tide towards bears. Immediate support is seen at 8650 levels (Spot).
2. The USDINR pair has taken 61.50 levels for now. A test of 61.00 Spot levels is possible before the pair resumes rally. Remain flat and watch out for reactions at current levels. Details below: