USD- INR May Futures- What can the short term trading range of Rupee be ?

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Dear Christite,

Here is the latest analysis about Indian stock market from Center for Research in Asset Markets and Economy (CRAME), Christ (Deemed to be University) Lavasa.





The Indian Rupee had lost against the USD in the last couple of months. However the Rupee did gain some of the lost ground from the last week of April, and ever since it has been consolidating with a mild upward bias in favor of the dollar. If the chart structure is respected the Rupee can witness some resistance near 75.7-75.3 levels. A break below this level can see the USD INR May futures test targets marked in green in the chart. If the structure formation continues, the USD INR can start moving in towards the levels marked in red.


DISCLAIMER

The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.

Analysts

Prof. Binu  P Paul PhD
Prof. Soumya V ACSI

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