Indian rupee has depreciated about 18% in last 6 month, causing a large group of importers to suffer cost pressure. Most of these companies were unable to pass this cost to consumers, resulting in loss. As India is oil importing country, we spend large chunk of our foreign reserve in oil imports. Increasing import price of oil causing higher inflation and RBI is in mood to beat inflation rather than supporting growth. This can be a big reason for stock market crash; nifty future is also trading down and we are looking to enter short position. Short selling will be best trading strategy for now and we are now waiting for some pullback to enter fresh short on nifty.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
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