The RBI transfer out tactical participation in the foreign exchange market on Friday to support the rupee, which closed higher at 63.20/21 a dollar. The rupee had closed at 64.55 on Thursday after hitting touch a new low of 65.56. The Sensex closed 206.50 points up at 18519.44 and the Nifty closed 63.30 points up at 5471.75.
"Thanks to the rupee closing higher, the one-month forward in NDF was trading 65 paise lower in New York early trades. If offshore rates close lower, then there is a high expectation that the rupee will be under less pressure on Monday.
RBI has changed the intervention style in the last two days," said the treasurer of an MNC bank.
Monday stock market nifty future trading tips and sure technical call on Tomorrow 26 Aug
SELL Tata steel with targets 279/278/276 Stop loss 287
SELL Tata motors with targets 298/297/295 Stop loss 308
SELL Godrej industries with targets 241/240/239 Stop loss 250
SELL Jindal steel with targets 238/237/236 Stop loss 245
BUY DLF with targets 140/141/145 Stop loss 130
http://stockmarketprinciples.blogspot.com.au/
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