USD INR - Dollar Rupee Weekly Chart:
Wednesday, May 25, 2011
BSE Sensex Weekly Chart
1. We attach our own system's chart for latest reading of equity and forex markets. (click to view larger picture).BSE Sensex Weekly Chart:
If we see Sensex chart we note that sensex has strong support around current level of 17800 from rising trendline and Dollar faces STRONG resistence around current level of 45.40 from faling trendline.
Lot of Analysts have become bearish on markets now but we still feel above levels will hold based on our other technical and fundamental indicators. However, We always believe market is above all and we could be wrong on above view. So, if Sensex slides below current levels AND Dollar moves up above 45.40 we must re-think on our current bullish view.