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| The first thing you should notice is where the Indian rupee was on August 28, 2011 (seen in our post on this blog) ie. 46.10. We had predicted an upmove taking it towards levels of 56 and above. We still hold that view. Rupee targets are as indicated in the chart above. The chart is very similar to long term Gold chart from 2008 onwards. Slight short term dollar weakness is possible due to the violent upmove it's just had. However, its long term trend is up. |
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