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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 20, 2018

Rupee

Rupee

USD/INR
USD/INR

VIEW POINT:
RUPEE-$71.97 ( 16.11.2018)

LOOKS LIKE END OF WAVE-V OF 3 FROM MEDIUM TERM PERSPECTIVES:
EXPECTING RUPEE TO APPRECIATE FOR LOWER LEVELS TARGETS FROM MEDIUM TERM PERSPECTIVES TILL IT REVERSES:

Click

Rupee closed at $71.97 on 16.11.2018. It has surprsingly made a wave-V from wave Count perspectives against my view. It made a high of $74.48 levels during this rally. It looks like end of Wave-V of 3 in USD/INR till this high surpasses as per chart attached. It also looks like impulsive 5 wave decline from recent high.

One can exepct Rupee appreciate towards target1-$69.80 levels in short term & below which we can see sharp appreciation towards target2-$65-$63 in medium term.

This is overall view for USD/INR till it trades below $74.48 levels from medium term perspectives.

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