I have been looking at Dollar index vs Nifty for sometime, and in last 6 months there has been some very good inverse correlation – When Dollar index rises, Nifty falls and when dollar index falls Nifty rises.
Dollar index can fall about 5% to its lows made last year – what does that mean for Nifty? If we go by past 3-4 months history, Nifty can rise to about 6660 levels!
Well – these are just projections. Doesn’t mean that has to happen. But never ignore such projections either!
Dollar index projection: