#4 Currency Update: 60.40 achieved

On 17th Oct we mentioned to Short USD and we have achieved our 1st tgt 60.40 on the next day itself  But now before activating next two targets we expect a pull back to 50 EMA near to 63.10. Indicators are also at the support zone and expect a recovery soon. As u could notice yesterday it breached resistance line and now we could see some upside movement. But Weekly and Monthly charts are still weak so dont go long  rather short on every rupee rise

Our Strategy: SHORT USDINR around 63 who missed at first go. Call is for long term hedgers while traders can go long at CMP for tgt 63.10 sl:60.80