I have just tried to count waves here in USDINR pair for period of around last one year (almost). Well it doesnt look atall that dollar is weakning in near future. In fact it may remain strong for next couple of year (approx). Huge huge consolidation almost at same place for last 1 year and now its almost completed. Should start heading north very soon and...
Buy USDINR At Cmp - 82.68 & On Dips To 81.6 SL - 80.4 ( Weekly Closing Basis ) Target - 93
Compression on USDINR at Near ATH Retest for further sharp rise
Hello & welcome to this analysis In the daily time frame it has now come to a falling trendline resistance which has also activated a Bearish Harmonic Reciprocal ABCD pattern. Coincidentally, the swing low was also formed with a Bullish Harmonic ABCD pattern. A retracement from here could take it to 102.75 and below that 102.15. The pattern would be considered...
Since Oct 2022, USDINR first time gave breakout today. We can see volatility in coming days.
USD vs INR (W) is under clear symmetrical triangular formation. Breakout and sustained above 83 for a week will lead INR to 86 at least.
Compressing above the short-term EMAs. The downwaves have shortened and the up waves have made relatively equal highs. Potential selling absorption is on the horizon, possibly within the next few months. Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Rupee is gearing up for move if dollar index starts closing below 99 then rupee will move towards 80 & 78. If dollar index move towards 104 then rupee can give more above 83 towards 85 & 87 then Bank Nifty also take back seat & IT sector move. Trade with stoploss & happy trading.
Summary: The USD/INR stock chart has exhibited a prolonged phase of long consolidation, indicating a period of relative price stability and indecision between the US dollar and the Indian rupee. This consolidation pattern often occurs after a significant price movement and suggests that market participants are assessing their positions before taking the next...
#Banknifty has formed a gravestone doji on weekly timeframe AND at wedge top #Nifty seems to be little more bullish Banknifty if goes down from this level next week, it could reach bottom of the wedge quickly
Hello Friends Here we had shared possible Elliott wave counts on chart of USDINR, which is clearly showing that on bigger scale we are in 5th wave of some higher degree, in which we had finished wave (1)-(2)-(3) and currently we are in either in wave (4) or in wave 2 of wave (5). Also both scenarios are discussed in this video post, you can go through this video...
Usdinr 1dtf is at very good support it might take a reversal from the support or breakdown It is posted earlier during reversal at resistance
There are chances of fall as the pattern has been building for 8-months and it is near breakout. But RBI might step in and buy dollar consolidating the price. Be on the lookout and take trades accordingly. Personal Bet: RBI steps in slowing in the price down. Have sold 82 PE for 23th Jun expiry @ 0.11.
Since Oct 2022 the price is in a complete side-way trend . For so long the trend not changed so it is more probable now that prices will pick momentum in either direction , I am little biased for a bullish move because on long term the trend is strong bullish. Any news (whether small or big) will become a trigger. We will see a big news now. From US.
The beast in banknifty got unleashed today, after a long gap banknifty options really started surging today! You wont believe the OTM prices went above the traded range of Wednesday, that too today being an expiry day! --- BankNifty Weekly Analysis During the current expiry week 9th to 15th June, banknifty shed 556 pts ~ 1.27%. You may not believe that 544pts i.e...
It should blast on weekly timeframe after a long consolidation
This is the plan of USDINR breakout for next upcoming seasons according to price action advanced analysis upcoming target of this currency pair apx is 6-7% in one month