The current weakness in rupee is in fact at the fag end of its completion.
my sense is intermediate wave (B) should end anywhere between 45.90 to
46.77 levels. (infact 45.90 level was crossed a few days back). or inr may
go just beyond 46.77( but not much beyond ) to complete the expanded flat
wave (B). In case ruppee falls short of 46.77 that will comlete irregular flat
correction. Both these scenario point to one fact that most of the damage or
one may call it weakness, in rupee is over.
from here on we will see a strengthening rupee against dollar. The implication of this is that export oriented companies will feel the pinch but not immidiately. For this to happen
we will have to wait for some time .IT companies will feel pressure the most.
On a larger degree ,I see INR firming to 33.22 to 31.36 band to complete the
wave IV . This may be an impulsive decline or another up wave followed by a
down wave .
my sense is intermediate wave (B) should end anywhere between 45.90 to
46.77 levels. (infact 45.90 level was crossed a few days back). or inr may
go just beyond 46.77( but not much beyond ) to complete the expanded flat
wave (B). In case ruppee falls short of 46.77 that will comlete irregular flat
correction. Both these scenario point to one fact that most of the damage or
one may call it weakness, in rupee is over.
from here on we will see a strengthening rupee against dollar. The implication of this is that export oriented companies will feel the pinch but not immidiately. For this to happen
we will have to wait for some time .IT companies will feel pressure the most.
On a larger degree ,I see INR firming to 33.22 to 31.36 band to complete the
wave IV . This may be an impulsive decline or another up wave followed by a
down wave .
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