Well when INR spot was trading around 64.40 to the USD on 21st Aug we advised@ Shorting on every Rs 2/2.5 upside likely to be a good idea from now if Rupee depreciates further.
http://moneymystery.blogspot.in/2013/08/no-more-long-in-inr-shorting-might-be.html
Well since then Rupee depreciated to Rs 69 thereby giving 2 shorting opportunity as recommended.
Currently INR spot at 62.64.....generating superb return close to 7-8% for those who followed the shorting advice. In our ideas one is always free to book profit at any level.
Well going ahead INR spot finds strong support in the region Rs Support 1@ 60.20/60 and Support 2@ 58.95 from where its likely to take support and bounce again upto 65/67. Only a closing below 58.90 could take it down upto 56.80 n below.
http://moneymystery.blogspot.in/2013/08/no-more-long-in-inr-shorting-might-be.html
Well since then Rupee depreciated to Rs 69 thereby giving 2 shorting opportunity as recommended.
Currently INR spot at 62.64.....generating superb return close to 7-8% for those who followed the shorting advice. In our ideas one is always free to book profit at any level.
Well going ahead INR spot finds strong support in the region Rs Support 1@ 60.20/60 and Support 2@ 58.95 from where its likely to take support and bounce again upto 65/67. Only a closing below 58.90 could take it down upto 56.80 n below.
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