Friday, November 25, 2011

Rupee - flash update (25/11)

Rupee held well at 52.10-52.00 buy zone (low of 52.08) has taken out 52.35 for extended run into 52.50. Now, 52.25-52.15 is expected to hold for 52.65-52.75.

Watch EUR/USD support at 1.3250-1.3200. you can exit short entered above 1.3400 at this zone for re-entry at 1.3300-1.3350. No change in expectation of extended weakness into 1.3150-1.3000

NIFTY could not hold above 4750. Allow consolidation at 4650-4750 before down to the set objective of 4450-4350

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