Buy on blue support , sell at red resistance.
India is sitting on big forex reserve, so big rupee depreciation is not possible.
Keep on swinging.
Rate will not appreciate beyond 73 Rs /$ in medium term due to weak economic conditions, high WPI , dovish policy, tapering, liquidity requirement, Continuous rupee infusion for growth needs, persistent Current Account Deficit, high crude prices. Also IT sector needs depreciation for more profit margins.
India is sitting on big forex reserve, so big rupee depreciation is not possible.
Keep on swinging.
Rate will not appreciate beyond 73 Rs /$ in medium term due to weak economic conditions, high WPI , dovish policy, tapering, liquidity requirement, Continuous rupee infusion for growth needs, persistent Current Account Deficit, high crude prices. Also IT sector needs depreciation for more profit margins.