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Monday, 3 February 2014

USD-INR update, analysis for February 2014 - 3 February 2014

Hi,

Despite markets falling, INR is showing some unusual resilience.

There were expectations regarding it going towards 63+ but it is trying some ground near 62.5 .

Chances are high for it to appreciate sharply once global sell off ends or subsides.

Time wise that is possible after 4th - 5th February 2014.

More precisely watch out for 17-19 Feb 2014 time band when sharp upside is expected in stock markets, INR can appreciate very sharply near that time.

One can sell USD-INR with stop loss of 63. If stop loss gets hit, sell again below 63.

Anjum S Khan
admin@tracknifty.com
Admin/Analyst
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