USDINR has been taking its support at this 4 year trendline support (in green) !! It is getting difficult for INR to depreciate against dollar i.e. difficult to climb up !!
Are there signs of a major turn around -- where USDINR breaks this support !! If this happens that would make the Stock Markets to jump up and a correction in IT & Pharma Companies !!
Indeed this is the big question that I started discussing in my previous post:
Global events and financial activities by India Inc are giving hint of depreciating USD against INR.
Market can see one or more bounce backs in USDINR before the downtrend begins.
GundyaBhau
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Chinese Yuan depriciation gives another trigger for INR devaluation!
Global events and financial activities by India Inc are giving hint of depreciating USD against INR.
Market can see one or more bounce backs in USDINR before the downtrend begins.