On the domestic front, as usual this NDA government works every day and every hour. India can progresses, higher employment can be generated by just increasing ease of doing business. India does not need big ticket laws for growth rates. The NDA government understands this and is doing everything in national interest. Flows will come in. Global factors will dictate the rupee negatively (if any) than domestic factors for now. The challenge for the NDA government will be between April to October period where it has cope with erratic monsoon rains and controlling prices of fruits and vegetables from spiraling.
Usd/inr January 15 (expiry on 28th January 15):
- Jobbers aggressive buy over: 61.91 stop loss 61.81 for6 62.03-62.21
- Jobbers aggressive sell below: 61.51 stop loss 62.6325 for 61.3750-61.1225
- Trade very carefully between 61.35-61.75 zone. This is a anything can happen zone. Only a consolidated break of 62.03 will result in short covering.
Euro/inr January 15 (expiry on 28th January 15):
- Jobbers aggressive buy over: 71.90 stop loss 71.81 for 72.03-72.32 (high risk)
- Jobbers aggressive sell below: 71.49 stop loss 71.61 for 71.3475 and 71.1225 (high risk)
- Euro/inr needs to trade over 71.48 today to rise to 72.02-72.47. There will be sellers if euro/inr trades below 71.69 in UK session to
Gbp/Inr January 15 (expiry on 28th January 15):
- Key support is at 93.10. The next wave of selling will be below 93.10 to 90.6875 and 90.2450. Only a break of 93.72 will resume the intraday bullish zone.
Jpy/Inr January 15 (expiry on 28th January 15):
- Yen/inr is overall bearish below 52.66 with 52.12 and 51.82 as key supports. We prefer a buy on sharp dips strategy as long as yen/inr trades over 51.66 till next week.
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