(Above chart updated as of Apr 23, 2008)
After taking support at the crucial 61.80 % retracement , the dollar / rupee has shown signs of revival as it touched a high of 40.07 today (Apr 23) ..
I presume a close above 40.10 should give a further impetus to the dollar and thereafter I would be targeting 40.80 / 41 in the short / medium term . . .
Friends it is time to dig out stocks which should benefit from a depreciation of the rupee ( i.e. a rise in dollar against rupee) . ..
Happy trading !!
CA Rajiv D Khatlawala
More about me at www.pushpdin.com
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