Mumbai: The Indian rupee is going down against the US dollar in the initial business of 10 December 2020. Today, the rupee depreciated 13 paise to 73.69 against the US dollar in early trade. The rupee was at 73.56 per dollar against the US dollar in the previous session.
According to Amit Sajeja, Vice President (Research), Motilal Oswal, the rupee in intraday can be bought in December futures at a price of 73.75 for a target of 74.05. A stop loss of 73.60 can be levied for this contract of Rs. In today's trade, there are chances of trade in the range of 73.60-74 in rupees. According to Anuj Gupta, deputy vice president (energy and currency), Angel Broking, in today's trade, the rupee can buy in December futures at a price of 73.60 for a target of 74.20. At the same time a stop loss of Rs. 73.40 can be applied for this deal.
According to Ajay Kedia, Managing Director of Kedia Advisory, buying at a price of 73.75 for a target of 73.9-74.08 in intraday can prove to be a profitable deal. A stop loss of 73.6 should be applied for this contract of Rupee.
Also Read:
Sensex, Nifty Open Lower; TCS focuses on buyback
RBI prescribes eligibility criteria for declaration of dividend by NBFCs
Heritage Foods sells its entire holding in Future Retail for Rs 132-cr