Friday, December 9, 2011

Rupee update - 09 December 2011

Rupee opened with a big gap at 52.20 (against previous close of 51.75) and at the door step of strong resistance zone at 52.35-52.50.

Premium Trades:

1. Hold on to long USD/INR entered at 51.35 for t/p at 52.35-52.50 with trail stop at 52.15
2. T/P for long entered at 51.75-51.70 (yesterdays' trade) at current 52.28

Will stay with consolidation at 51.50-52.50 in the near term.

Will be back soon with recommendations.

Moses Harding

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