Friday, December 9, 2011

intraday update for rupee - 09 December 2011

USD/INR:

Rupee is now boxed at 52.15-52.35. Now allow possible overshoot below 52.15 into 52.05 which should hold for back into 52.35-52.50. Over all, consolidation at 52.00-52.50 is preferred.

Buy in 3 lots at 52.15/52.10/52.05 with stop below 52.00
Sell in 3 lots at 52.35/52.40/52.45 with stop above 52.50

Moses Harding

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