Currencies
Friday, Deceember 03, 2010
Rupee
RUPEE:(AT VERY CRUICAL SUPPPORT LEVELS):
Rupee closed @ 45.13 on 02\12\2010. It has closed very nearer to lower end of short term channel as per chart attached. It has at very crucial short term support levels in the range of around 45.15 to 44.95.
My overall view on Rupee is still intact as mentioned earlier on 27/09/2010. It came very close to its target-1 of 43.40 (made low of 43.80 on 8/11/2010). & then after, it bounces back from lower levels & came very close to its upper end of over all falling channel as per weekly charts. It has made a high of 46.11 on 30/11/2010.then after, it has stats falling.
One should sell Rupee with SL-46.50 for the target of lower end of channel i.e. - 42.70.
Larger view on Rupee can possible only when it breaks out form channel at either of side.
My overall view on Rupee is still intact as mentioned earlier on 27/09/2010. It came very close to its target-1 of 43.40 (made low of 43.80 on 8/11/2010). & then after, it bounces back from lower levels & came very close to its upper end of over all falling channel as per weekly charts. It has made a high of 46.11 on 30/11/2010.then after, it has stats falling.
One should sell Rupee with SL-46.50 for the target of lower end of channel i.e. - 42.70.
Larger view on Rupee can possible only when it breaks out form channel at either of side.
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Indian Rupee Exchange Rate