USD/INR: Rupee yesterday tested the level just below 49 but fails to sustain below the same and closing was seen at 49.16 with the positive move in Dollar index. Today the opening is positive at 49.43 per$ but fails to cross the lower resistance of 49.5 per$ level. Immediate support is seen at 49.25per$ and further crossover below 49.25 per$ will bring to 49.1 to 48.9 on lower side. On higher side if sustain trading is seen above 49.4 will bring to 49.5 – 49.75per $ which is the resistance level and RBI intervention was seen at 50 per$, further above 50 per$ will bring to 52 to 53.5per$ in near to medium term which is expected target till the time 48.7$ holds on closing basis. I expect it to move upsdei beyond 50 in near to medium term for higher target. Dollar index after testing 76.56 gave a sharp reversal in price where yesterdays closing were seen above 77, and currently it is trading at 77.20 and is near the resistance of 77.3 level. Rupee is expected to trade in range of 49.7per$ to 49.25per$ for the day. Stochastic are trading in mid zone and with positive intersection is trading at 40% zone which indicates upside move can be expected.