USDINR has reached it's upper range where it has faced
resistance several times as visible on charts.
Avoid fresh longs here and an aggressive could also take a short
position here with very small stop loss.
RSI is also facing resistance near 72 which is again negative sign.
Although, USDINR could make some fall but, that is always good
for the market and...
Breakout In USDINR -
Rising dollar value against Indian rupee is leading to further decline in Nifty 50 Index.
If you think deeply about this, you can see it’s an Indication of FII squaring off or liquidating their holdings from Indian markets.
When FII want to invest in Indian markets; they’ve to convert USD to INR, which would cause the Dollar value to...
#USDINR spot pair formed a Rally-Base-Rally pattern on a daily chart. Fundamentals also support the current bull trend.
#Rising Interest rates
#Increase in India's trade deficit.
#Current economic conserns.
1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula: - Stop Loss Amount/ (Buy Price-Initial Stop Loss Price)
4. sell 50% of your position on ADX cross of 40, keep the other half and trail the stop with Supertrend indicator or any other indicator of your liking.
After a consolidation sale March 2020, ...
USDINR 13 May Expiry view
Looking at Price action, it has shown a clear BO of Inverted Head and Shoulder with good volume.
Next Target can be next resistance or 77.160 if breaks this too then ATH-all time high level 77.416 (round to 77.5)
May Sell 76.5 PE and buy 76.25 PE for hedging ( execute this when you get a dip, view - buy the dips )
Plan Your Trade and...