jayadrath

Rupee to strengthen after this pull back rally

Short
OANDA:USDINR   U.S. Dollar / Indian Rupee
36 views
0
USDINR has entered the bearish zone after breaking the monthly bullish trend line in July. This recent rally can be seen as a relief rally. Since July it is giving lower high and is unable to sustain above 67.25.
Revarsal of trend indicated by close above 67.3 and confirmed at a close above 67.5 in a couple of weeks time. A sharp bull back with a close above 67.1 in a couple of days could be harbinger of a faster recovery.

But, rupee to strengthen again from here if we follow the monthly trend with an end of short term uptrend observed recently.
Calls at 67.3, 67.5 can be safely written. Similarly puts of 66.25 & 66 can be written for the month expiry.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out