Just a few days back we talked about Rupee gaining strength against the USD and I strongly feel that INR going to hit levels of 56.8/55.2 levels in hurry by May 2014 which will be a key level to go long again. Don't see it breaching below 55 for the time being.
Right now it has broken a key level of 60.91 and below that it will remain strong and secondly the wave is going in favour of Modi which will assist rupee to get further strong however sooner or later market will realise that chances of Modi not getting the clear majority or say fear of hung parliament or say 3rd front & congress forming alliance will play on in the market climax. So the market likely to remain strong till the rupee remains strong.
Note: Markets runs on various dynamics. Above is just a thought of mine. I may go wrong on my assumptions.
Right now it has broken a key level of 60.91 and below that it will remain strong and secondly the wave is going in favour of Modi which will assist rupee to get further strong however sooner or later market will realise that chances of Modi not getting the clear majority or say fear of hung parliament or say 3rd front & congress forming alliance will play on in the market climax. So the market likely to remain strong till the rupee remains strong.
Note: Markets runs on various dynamics. Above is just a thought of mine. I may go wrong on my assumptions.
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