MCX rupee prediction for 1 December 2014

MCX rupee prediction for 1 December 2014

Mcx rupee of December expiry closed at 62.37 on Friday trading session with gains of 15 paisa. Means rupee is still under pressure against dollar and on Monday below expect GDP number and relaxation of gold import rule can add up pressure on rupee so expect higher level up to 62.6 here. On downside 62 is stop loss for intraday traders.

Euro inr future closed at 77.64 with gains of 3 paisa. In intraday almost 30 paisa plus swing seen on Friday and closed near high. Weakness in rupee can see higher levels in this pair. So stay long with stop loss of 77.3 for intraday.

Pound rupee future closed at 97.8 with loss. In intraday almost 35 paisa, range had seen and pound future closed with loss. Here stay short with stop loss of 98 rupee for downside target 97 rupees in intraday. Weak pound may continue is primary trend.

Yen rupee future of December expiry closed at 52.83 with loss. Yen closed in red but closed near high suggesting recovery or bounce back signs. Here risky traders stay long with stop loss below 52.5 for bounce back up to 53.5. If yen broke, 52 levels then expect 50 to 48 levels in short to medium terms.

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Pramod Baviskar

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