Currencies

Wednesday, May 23, 2012

Rupee

RUPEE: (Broken out of channel) ( Bullish)

Rupee today closed @$55.34. It has given breakout from channel as mentioned earlier (Chart attached) & managed to close above $55 levels (above crucial Resistance levels).

If it will not cool down within day or two then one can expect euphoria kind of rally in Rupee till target of $59-60 in short term..

One should Trail long with SL-$54.20 reversal/Support levels.

Indian Rupee Exchange Rate

Currency Exchange Rate

Disclaimer

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.

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