The chart seems to form a perfect M top with a clear diversion and as per the Steve Mauro setup it is expected to continue the bearish trend . GBPINR broke its trading range to make its new high and it is bound to be intervened as per fundamentals.
Perfectly rebounding at the given level. Patience is the key and stay in trade for lower levels.
Going perfectly as per projection.
First the rebound as predicted and now going for the second level fall.
Trade closed: target reached:
Perfect prediction. Target done.
Close major position and hold a few lots for 102.5.
@Ravish_Shah99, I think GBPINR will be under selling pressure. Waiting for 103.7 to be broken followed by 103 and 102.5. If market turns up it looks hard for GBPINR to sustain and close over 106. So i will suggest to sit short and add more on every .40 upside move if you get a chance for a target of 102.3
@khandelwalparth97, Thanks for your kind words. the levels for 6 months and year ahead are hard to predict. Reason being the pandemic affecting every country in a very different manner. I will the new range has shifted to 101- 105 and the possible shifts can be 104-109 on the upside or 96.5- 101 if it gets stronger. The focus should be on the information we have currently and taking swing trades as per that and letting the markets decide whats ahead.