INR has depreciated by 22.17% since April 2013. I have given a sell call on
INR in my post on 16th
April 2013 and reiterated my sell call on 21st May 2013.
If
we look at the second chart we can see that INR has touched the upper end of the
channel. I think we have completed this leg of INR depreciation and now there
will be a long consolidation or a correction in INR before we start the final
leg of upmove. I don't see any immediate threat of further correction from these levels.
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