epicresearchindore
Epic Research
When the rupee was at 57, the cost of negative sentiment stood at Rs 5.50. Of this, about Rs 2 is due to the negativity created by the Budget over a period.
So if there is any change in the scenario, investors should get that money back. Now it appears that on the Prime Minister's affirmative assurance, especially regarding taxation, investors got that Rs 2 back immediately.
But I don't think there is going to be any further appreciation of the rupee in the immediate-term unless of course the dollar weakens or if Europe straightens up, which I don't anticipate. So I think this is great opportunity for people to buy dollars.
The other shadow on the horizon is the monsoon, which is not as expected. So, now that investors have received a gain of Rs 2 gain, they should buy.
So if there is any change in the scenario, investors should get that money back. Now it appears that on the Prime Minister's affirmative assurance, especially regarding taxation, investors got that Rs 2 back immediately.
But I don't think there is going to be any further appreciation of the rupee in the immediate-term unless of course the dollar weakens or if Europe straightens up, which I don't anticipate. So I think this is great opportunity for people to buy dollars.
The other shadow on the horizon is the monsoon, which is not as expected. So, now that investors have received a gain of Rs 2 gain, they should buy.
