USDINR seems to take a momemtum above 75.20
as it is a long term trend line level
This trend line breaks the flag pattern of USD INR made from its All Time high level
Good volume candle printed on 4hourly
Any pullback will be a long opportunity
My Trade will be
SELL 75 PE
BUY 74.75 PE
Bull Put Spread
I might also add a naked 75 CE to gain the momentum if it crosses 75.20 and above with an hourly candle closing above 75.20 with good volume .
as it is a long term trend line level
This trend line breaks the flag pattern of USD INR made from its All Time high level
Good volume candle printed on 4hourly
Any pullback will be a long opportunity
My Trade will be
SELL 75 PE
BUY 74.75 PE
Bull Put Spread
I might also add a naked 75 CE to gain the momentum if it crosses 75.20 and above with an hourly candle closing above 75.20 with good volume .
Trade closed: target reached:
Booked 7% profit on capital deployed...
plus 15% profit booked in Long call (75.25 CE) today... :-)
Happy Trading !!! Buy the Dip view extends to next week too... Enjoy !!!
plus 15% profit booked in Long call (75.25 CE) today... :-)
Happy Trading !!! Buy the Dip view extends to next week too... Enjoy !!!