RUPEE OUTLOOK

Dear All

Rupee CMP is at 55.525..market is approaching the trendline resistance at 55.75 and max 56.60 Looks like Rising Wedge Formation Normally when rising wedge formation occurs the break out is always on downside and not on upside, very rare the break out is on upside, so my minimum target now will be 53.6 Stop Loss: 56.8 Kindly check the graph Regards Please Note: This content of this report are based on my personal view.