MY BLOOMBERG - UTV INTERVIEW SCHEDULE FOR THIS WEEK
TUESDAY 9 A.M.
THURSDAY 9 A.M.
FRIDAY 3 P.M.
The Dollar Index is at 77, down from a high of 88.7 in June. At current levels, the Dollar Index may be approaching support, a well as getting oversold. Then, a rally could be on the cards. A rally in the Dollar Index means:
(a) A decline in the value of the Rupee. The Rupee/Dollar value may rise from 44.6 to 45 or even 46 (depending on the rally in the Dollar Index) There is a possible trade here.
(b) A rally in the Dollar Index could mean a rally in IT stocks - Infosys, Wipro and TCS. Also, to a lesser extent in HCL Tech.
(c) In the short term, FII inflows may decrease because of the adverse exchange environment.
This could mean: Gains in the Dollar-Rupee rate, Gains in IT Stocks, neutral to bearish impact on the broad market.