Saturday, March 24, 2012

rupee trading tips march 26-30 2012

rupee trading tips march 26-30 2012,rupee prediction next week march 26-30 2012, rupee trading outlook march 26 2012, rupee resistence level next week march 26 2012 ; We think the rupee will underperform near-term as twin deficits remain an issue. The economy is slowing, with RBI likely to continue easing in 2012. RBI kept rates at 8.50% March 15 after unexpectedly cutting cash reserve ratio by 75 bp to 4.75% March 9.

RBI is expected to continue easing, as some officials have not hesitated to highlight the need for monetary easing. RBI will be cautious because inflation pressures picked up a bit, as WPI rose 6.95% year over year in February vs. 6.55% year over year in January. Foreign equity inflow has continued but the pace is decelerating on concerns about continued economic slowdown.

Key Levels: Resistance near 51.63 (retracement from December -February drop).
Support near 50.5 (trendline from February) and just below 50 (March lows).

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