USDINR trade ideas
USD INRUSD INR trading opportunity please check chart for more details
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Its very Important to Understand Micros What I can understand from the chart and fundamental, the currency is very strong above $69. I don't trade in currency but I never ignore micros.
Due to Election currency rate is stable but after the election, I think currency may give closing above $70 and it will go up to a minimum $70.35-$70.65.
Also, I want to connect this scenario with IT sector. I observe that in every dip smart money are buying IT stocks.
Now I am closely watching Pharma Stocks because pharma stocks are also beneficiary.
Thank x :)
Be Cautious Short USDINROne can short USDINR with the target of 68.50 or near by levels. With an SL of 70.05
If it breaks the SL, then the trend is us bullish in USDINR with the upper targets of 70.20 & 70.60 levels.
Currently it is at the point from where if it breached then expect either a new high or new low. Though the probability of new lows are high. So, be cautious.
USDIN Bulls are ready to take overUSDINR is riding slowing on a bull trend with an strong support at ₹69.13, 69.001 and 68.47
Whenever it touches any of the support don't panic and wait for it to give a closing price of the day. If it below then it is still in bear trend.
Otherwise, taking the (SL) of ₹69.06 with the target of 69.70 and 70.20 in coming days.
Updates for USDINRHi Guys,
Rupee looks strong on the weekly chart, but it seems like it might consolidate in 68.5-70 Range for 1-2 months then it might go for the big move.
It will depend on the price action in the areas I have plotted. Most probably it might go down(Because RSI Seems week for USD) because of the structure but still can't say exactly.
This is not financial advice, just my thoughts.
Thanks.
Next buy set up I am looking this can drop one more drop before start moving out form current structure
This will also indicate that C wave of last leg sub wave 5th will complete ,
One can look for one drop before going for any Long position , as current move on daily is not strong likely to drop one more
I am forecasting it as B wave will be 50 % pull back of entire move it has come down so far ,
The larger trend is still down ward move up to 65
Good luck
USD INR Daily Analysis Can buy CMP 68.6050 SL 67 Target - USD INR Daily Analysis
Can buy CMP 68.6050
SL 67
Target - 69-69.55-69.9-70.2-71.4+
Can try Fut or buy 69 CE 22nd March Expiry CMP 0.0575
Buy @ 0.0300-0.4000 SL 0.100 Target 0.06-0.09-1.20
USDINR - The Box Match@69.16Education & Trading Idea
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Mankading
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.
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Trading Strategy
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Strict Stoploss - 68.00
Target 1 Zone -
71.50-71.80
Target 2 Above 71.80
72.50
Target 3 Above 72.60
74.50
Target 4 Above 74.50
Can it be Up Up & Away
Thanks for watching this video.
USD INR buy @ 69.14-18 for target of 69.80buy only at if it's hold at 69.14-16, don't rush wait for correct entry..
USD broke support as compared to INR. good for INR1USD=66.9INR might be soon in near term. IT stocks might under perform!
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
USD-INR still got room below? Count is getting oscillated hereIf wave iv able to retraces to 70.20, keep patience. Further after 70.20, If it moves below 69.25 then flat could be forming. if goes past above 70.35, Triangle could be forming. Strict SL required in either way Trading.
USD/INR supporting IT Sector ViewUSD INR may see downward move for sometime may be till 66/-
effect of which may be seen IT sector too.
USDINR Before the fundamental analyst start calling it the influx of political money, let me give you the targets of 67.84/66.85 for USDINR and make you see the reason behind this correction.
The pair started to move inside a rising wedge at the onset of 2018 and have broken out from the wedge to make a bearish move towards the targets marked with green lines.
Dont forget to hit a like and give me follow if you like the chart.
usd might bounce as compared to INRSo is it time to buy IT stocks?
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
USDINR below 70.75 (risky) & 70.30 (safe)USDINR below 70.75 is risky entry and below 70.30 safe entry. Respective sl 71.50 & 72.60.
Personal view, Education purpose only.
