Jahir_Jack
Short

Short USDINR Target 71.32 short term

OANDA:USDINR   U.S. Dollar / Indian Rupee
Short USDINR Target 71.32 short term.
According to Indian market today Nifty , Bank Nifty , Sensex all bounce up with a strong bull rally. also USDINR four hours chart looking bearish .
Fundamentals to Watch New Governor, Political parties Exchange, Indian market zoomed up.

USDINR short term target 71.32.
Dec 12
Trade closed: target reached: Update: Target revise to 71.60 and not 71.32 as per technical data. I've already booked profit if you're a risk taker then trail the stop loss and watch every penny counts
Dec 13
Comment: Darn! We almost reached our first initial target 71.32 and second target 71.60 has broken.
Dec 14
Comment: USDINR four hour chart looks bullish go Long 72.30 Target today or next week Monday

Related Ideas

Can anyone tell me this chart and discussion is of spot price or of future price ?
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Jahir_Jack replytoyog
@replytoyog, this chart is totally based on technicals, trend line and patterns.

Most of the trade i done in spot price and in future both
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Yes..New Governor has been received very positively by all stakeholders especially banks...
TP:71.30 .. then may test 70.80, if crude stablizes around b/w 60-62/-
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@RKJS, Help me here if possible, for what exact reason previous chairman was fired from the job.
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Jahir_Jack French_Fries
@French_Fries, If you mean by the RBI governor, Mr. Urjit Patel wasn't fired He resigned. reason politically and financially unstable
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French_Fries Jahir_Jack
@Jahir_Jack, Thanks a lot, so when you say financially unstable, do you mean is that somewhere related to the under water loans. I'm wondering if there are 09 style problems brewing under the surface.
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Jahir_Jack French_Fries
@French_Fries, Yes. Mainly for bad loans and under pressure IRB
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French_Fries Jahir_Jack
@Jahir_Jack, @RKJS Thanks Both of you!! I'm new to indian markets and still in a process of testing the waters. I have two more basic question, and i will greatly appreciate if you can answer

1. Why people in India pour their money in banking stocks ( Specially HDFC ), i've never see a product being traded like the bank nifty does, is the reason pure speculation or there is some fundamental reason for doing so? I do know that state run banks are always in trouble, is it not the case with privately owned banks ?

2. Is there a St Louis Fed like equivalent for Indian Central bank

https://fred.stlouisfed.org/
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RKJS French_Fries
@French_Fries, To answer the first part of your question Banking sector is integral to any emerging economy... and like any industry there leaders and laggards. HDFC has been a consistent performer on all fronts - growth, management, ratios, NPA etc
Secondly, Indian central bank is RBI - Reserve Bank of India akin to your FED and has been on cleansing spree with the entire banking system w.r.t. NPA and have done a fairly good job .. sometimes going too far with tightening (surely for good reasons :-) )
+1 Reply
@RKJS, Thank pal for the explanation, so its a pretty different environment in India in that case, people here in states hate bank stocks, when they tank we actually celebrate for obvious reasons.
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