USDINR 1st Feb 2016
USDINR has performed exactly as per expectations and as per our USDINR analysis / USDINR prediction we do not see any significant weakness in rupee. As per our analysis we expect USDINR to top out between 68.50-68 spot rates mentioned and then we see a bullish cycle for INR starting shortly. From 68.50-68 we see INR appreciating towards 63 over the next 90-180 days and we feel INR we will be one of the best currencies for 2016 calendar year. Our advise to NRI’s is to move money to India as INR itself will appreciate and give great returns over the next few months if NRI’s wish they must even go ahead and buy front line stocks as this will further enhance their returns over the next 180 days. (INR will appreciate and Nifty will move towards 8800-9000). Those who are looking to take dollar denominated loans above 68 spot rate should be a very good time to do so. NRI’s based in UAE, Kuwait and KSA must move their savings to either INR or move money to Indian Equities as we see AED, SAR and KD being devalued in the coming few months time (exact details have been given to clients as to what to do, when to do etc)
Please avoid moving money to Gold as we do not see Gold moving much higher than 27500 in INR terms. Downsides may eb capped but even upsides are capped so does not make any sense to park money in Gold.
Good Trading To You!