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The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Devang Shah.The information contained herein is based on my analysis of the Charts. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it. The Investment discussed & recommended on this website may not be suitable for all. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent Views, as they believe necessary.
While acting upon any information or analysis mentioned on this website, investors may please note that neither Devang Shah nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. I may hold long or short positions in the securities/commodities discussed herein from time to time. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities.

Currencies

Tuesday, November 03, 2015

Rupee

RUPEE:
USD/INR:
Lower end supports holds:
Medium to Long term view still intact:

Rupee closed @ $ 65.55 on 02.11.2015. It still moving in channel as per weekly chart attached. It managed to found support near lower end of channel. Till it trades above it overall medium to long term view remains up & expecting targets in the range of $68.60-$70 in Medium to Long term perspectives on positional basis.

Its daily momentum indicators are in BUY. Risk reward is favorable to BUY at current levels with SL-$ 63.88 levels for medium to long term perspectives till Trend reverses.

Conclusively, Rupee will depreciate further till it moves in channel & holds support of $63.88 levels from medium to long term perspectives.

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