Today's action has likely peaked at 5250 but I doubt if short sellers or currency switchers will be allowed to keep the -1 correlation in the two markets and tke the rupee back towards 57 even in intra day rallies, the Currency Bears indeed had a lfortnight long unabated run except for the correction on Monday which they promoptly retraced. 

Do not enter the rally at this point

Posted via email from The India Investment Post