USDINR - The Box Match@69.16

FX_IDC:USDINR   U.S. Dollar / Indian Rupee
Education & Trading Idea

Controversial Strategy Mankading has been discussed which is used at times to score a plus against your opponent and compared with similar box kind of strategy used in real time trading.

The act of dismissing a batsman when bowler makes the bowling action before he could complete the bowling -non striker batsman leaves the crease & bowler removes the bail. This act is called Mankading & was named after legendary cricketer - Sir, Vinoo Mankad

Latest Mankading act which I recollect was seen carrying out by famous cricketer- Chris Gayle in IPL & In Under-19 Cricket World Cup -West Indies V/s Zimbabwe where West Indies took the last quarter-final spot with a thrilling, but controversial, two-run win over Zimbabwe & finally winning Under - 19 World Cup.

That's the power of Mankading.

Trading Strategy
Strict Stoploss - 68.00

Target 1 Zone -

Target 2 Above 71.80

Target 3 Above 72.60

Target 4 Above 74.50
Can it be Up Up & Away

Thanks for watching this video.
Trade active: 09:56 Hrs 25th March 2019

Nifty Update
Last Price@11355

As suggested last in Auropharma update about Nifty that we expect gap down & which was seen in today's session.

Current Support between 11340-11350 can help Nifty Index to bounce close to 11390-11415 zone upside

Going below 11340 -Next support comes at 11250-11265 zone. Thanks
Trade active: 11:41 Hrs 25th March 2019

Last Price@11336

11340-11350 is no trade zone for me any move above 11350 - we can expect upside bounce as suggested last update above & any move below 11340 & holding below 11340 - we can expect 11280 & 11250/11260 target zone downside.
Trade active: 14:37 Hrs 25th March 2019

Nifty Update - "Avoid Getting Emotional -That is my mantra, always to trade & be happy wherever market goes "

Last Price@11329

As expected below 11340 we can see nifty to 11280/11260 - current low@11312

If Nifty bounces above 11330 - we need to book partial profits what ever we get as going above 11340 -It has strong chances of upside push to 11390-11415
Trade closed manually: Bye
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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SIr, My credit card expired and I updated my billing information, next due is on 30th of march but my chart s are not opening and guess service stopped, can you give please any trading view support team indian cutomer care number, I am unable to trade now.

There is no customer care contact numbers available in this site
@venkat, Hi Venkat, unfortunately, There is no support team in India - Its all in U.S. - You can approach them only through charts /tools panel -right hand side - tool's panel- last icon - "help icon" & get in touch by clicking -"contact support"
venkat AbhishekHSinghCMT
@AbhishekHSinghCMT thank you ji,
@venkat, Welcome!
Great analysis. Have taken the position @69.35 (apr fut price). Other indicators like macs, rsi & mfi are also showing signs of reversal. So i guess this should work in our favour.
Thanks for the video and i appreciate your regular updates which you do .

Do you see a significant resistance @ 70 (which is a 50 % retracement of the previous down leg)

I am asking since there is always an inverse relation of rupee movement with nifty Index!
@MAYA_MUMBAI, Inverse Relation between Rupee & Nifty - What is the data which you have taken to establish the relationship. Can You tell about the relationship -if you take USDINR Data since 2010-2014 & India Nifty data since 2010 -2014 to current year 2019 - is it inverse or direct relationship between them ?

i guess i got the wordings wrong!

What i have observed is that

whenever the rupee depreciates ; Nifty movement is usually bearish
& when rupee appreciates ; Nifty movement is usually bullish

I understand that the correlation between the rupee and the Nify is FII flows.
Since FIIs need the Indian currency to invest in the Indian market, the demand for the rupee goes up, in turn, boosting the currency.

I am not from a financial background & i do not have a statistics behind the statement i made .
I am sorry if i have made a misleading statement

@MAYA_MUMBAI, No- You are correct in putting your remark in the first comment & even 2nd but your findings are based on short term data - I asked you check for long term data -what is the relationship between Rupee & Index Nifty - if you take data from 2014 to 2019 & check the data for short term just 6 months to 1 year data & see the relationship between them. Are you getting the same relationship ?

Yes got your point , thanks