Exclusively to our clients we gave this following view on 6th June 2013 at 8.20 am@
Money_Mystery: Market was going well however with Rupee loosing its shine against the USD is very disturbing. Its an disturbing element. Giving nightmares. As per my assumptions 56.80 will act as resistance for usd/inr spot and only a closing above it will take it to new territory. Electricity is costlier, Crude is costlier and in all these how could a country progress??? Difficult and adding glamour to it is high level corruption. mismatch situation. Excess if everything is bad...things need to be normalise. Let the market stabilise.
This is just a thought of mine which I liked to share with all you.
What Happened Since@
On 6th june itself INR spot closed above 56.8 and since then there's no looking back.....hits 60.72 Vs USD as of today.
Nifty From a intraday high of 5956 on 6th june has corrected to 5580 as of today.
Money_Mystery: Market was going well however with Rupee loosing its shine against the USD is very disturbing. Its an disturbing element. Giving nightmares. As per my assumptions 56.80 will act as resistance for usd/inr spot and only a closing above it will take it to new territory. Electricity is costlier, Crude is costlier and in all these how could a country progress??? Difficult and adding glamour to it is high level corruption. mismatch situation. Excess if everything is bad...things need to be normalise. Let the market stabilise.
This is just a thought of mine which I liked to share with all you.
What Happened Since@
On 6th june itself INR spot closed above 56.8 and since then there's no looking back.....hits 60.72 Vs USD as of today.
Nifty From a intraday high of 5956 on 6th june has corrected to 5580 as of today.
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