Currencies
Wednesday, March 16, 2011
Rupee(STUCK IN RANGE)
RUPEE:
Rupee closed @45.16 as on 15\03\2011. It’s forming triangle kind of pattern as per chart attached. It can be bullish triangle or bearish triangle based on price breakout confirmation on either of side.
It has actually stuck in small range of $44.80/$44.50(lower end) to $46 (higher end) from last 4 months. My overall view on Rupee is still intact as written on 27/09/2010 & also on 03/12/2010 for the target of $42 with revise SL-$46.10.
Larger view on rupee can possible only if it breaks from this range mentioned above.
It has actually stuck in small range of $44.80/$44.50(lower end) to $46 (higher end) from last 4 months. My overall view on Rupee is still intact as written on 27/09/2010 & also on 03/12/2010 for the target of $42 with revise SL-$46.10.
Larger view on rupee can possible only if it breaks from this range mentioned above.
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Indian Rupee Exchange Rate