Currency

66.80 tgt achieved on USDINR

On the 1st of March i initiated a sell call on USDINR on Hedge against Dollar at around 68.64 and today its target has been achieved. We have seen dollar index weakening which had its effect on our currency too. Rupee had been trading in the strict upper range today we are moving beyond the support to strengthen more. Attached chart is weekly …

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Currency

Hedge against Dollar

Our Rupee has been weakening continuously against Dollar since June 2014, while it was trading around 60/USD. But still it has been trading in the strict upside channel, and importer and exporter could take support of the same and hedge their payments accordingly. Fundamentally, this has been the period where FII has sold heavily in Emerging markets including …

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Currency

#4 Currency Update: 60.40 achieved

On 17th Oct we mentioned to Short USD and we have achieved our 1st tgt 60.40 on the next day itself  But now before activating next two targets we expect a pull back to 50 EMA near to 63.10. Indicators are also at the support zone and expect a recovery soon. As u could notice …

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Currency

#3 Currency Update: Time to Sell USD

Rupee depreciation has been the talk of the town for last few months which has been beneficial for companies and individual having reach in foreign countries. Sectors like IT and Pharma are expected to show earnings above street estimation this quarter. On last 30th October it was our #1 Currency target and we gave minimum …

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