Currencies
Friday, January 18, 2013
Rupee
RUPEE: (Finally Broken Out of Range):
TRAIL IT:
Rupee closed @ $54.35 on 17-01-2013. It’s today finally broken out of range(i.e. - Trend line support as per chart attached & Crucial swing low of $54.10) & trading below it. Its very good confirmation for further lower levels targets for medium term perspective as per expectation.
As mentioned earlier on 29-11-2012 about LOC for Rupee is $54 for short term. It has consolidated above it for quite a long time (around 6 weeks). Sustain below it for coming days is a very good sign for medium term view. One can expect target in the range of $53.30- $53.50 in immediate short term, sustain below it will give us further confirmation of further lower levels target1-$52.50, target2-51.35 & target3-$ 50 in medium term.
It has strong support @$53.80 & Resistance @$54.28 in short term.
Daily KST & Monthly KST both are in sell indicating weakness. It’s slow but steadily going towards lower levels. One should trail it with revised stop losses till over all trend reverses for lower levels targets.
$54.75 & $55.38 is crucial Resistance & reversal levels for Short & Medium term respectively.
TRAIL IT:
As mentioned earlier on 29-11-2012 about LOC for Rupee is $54 for short term. It has consolidated above it for quite a long time (around 6 weeks). Sustain below it for coming days is a very good sign for medium term view. One can expect target in the range of $53.30- $53.50 in immediate short term, sustain below it will give us further confirmation of further lower levels target1-$52.50, target2-51.35 & target3-$ 50 in medium term.
It has strong support @$53.80 & Resistance @$54.28 in short term.
Daily KST & Monthly KST both are in sell indicating weakness. It’s slow but steadily going towards lower levels. One should trail it with revised stop losses till over all trend reverses for lower levels targets.
$54.75 & $55.38 is crucial Resistance & reversal levels for Short & Medium term respectively.
| Previous Page |
Indian Rupee Exchange Rate