Currencies
Saturday, MAY 15, 2010
Rupee
RUPEE: (BULLISH)
Rupee closed @ 45.25 on 14\05\2010. As I mentioned on 20\04\2010 in my view on rupee, it was trading at very crucial levels from last couple of session. It has given finally confirmation on Upper side. It has sustained above $45.24.
It is forming Inverted H & S kind of pattern on daily charts. It has neckline breakout at $45.72. Sustain above it will lead to tgt1-46.30 & tgt2-47.45 in short term. One should go long on rupee at every decline with SL-44.05.
Daily /Weekly KST & MACD (Momentum indicators) are also in favor of bulls.
Rupee closed @ 45.25 on 14\05\2010. As I mentioned on 20\04\2010 in my view on rupee, it was trading at very crucial levels from last couple of session. It has given finally confirmation on Upper side. It has sustained above $45.24.
It is forming Inverted H & S kind of pattern on daily charts. It has neckline breakout at $45.72. Sustain above it will lead to tgt1-46.30 & tgt2-47.45 in short term. One should go long on rupee at every decline with SL-44.05.
Daily /Weekly KST & MACD (Momentum indicators) are also in favor of bulls.
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Indian Rupee Exchange Rate