JohnSikes73

JohnSikes73 Updated 

The index has a mild support at 23350, below which the next support is around 22700. Given we are already in a correction territory, we won't see a recovery unless FII start buying or improved quarterly results in January. I feel this is a very similar to Oct 2021-Jan 2022 period.

JohnSikes73

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.

JohnSikes73

The angled line has acted as a great support. It fact the price has kept moving up pretty aggressively with respect to the support. There are three probable paths it can take from here. Let's see how long can 2200 act as a resistance. If there is a breakout on downside there will a big plummet till it bounces of the 100 day MA line.

JohnSikes73

An diminishing triangle pattern has formed between the trend line (in orange) and the support line (again in orange) at 75.2. 75.2 is a strong support and has supported the scrip 4-5 times since 8th June. I am betting slightly higher on the breakout happening on the downside. The second wave has led to serious outflow of USD to other currencies (EUR, YEN, CNY). ...

JohnSikes73

This huge weakening of the greenback comes at the backdrop of resurging covid cases in United States as compared to the rest of the world. The past couple of days has seen greater than 30k new daily cases. So the "emergency of dollar demand" might be waning at least till the fear of the second wave lasts and the rest of the world recovers steadily. More favorable...

JohnSikes73

75.2 have been acting as a support for USDINR. Expected breakout within next two sessions.

JohnSikes73

A neat triangle pattern has formed. Expecting breakout on the downside. Short term future traders.....brace yourselves....breakout might be approaching!

JohnSikes73

Expecting breakout on the bottom side. Reasons to be Bearish: 1. Economy slowly reopening as the number of new cases decrease. 2. With another stimulus on the horizon, markets are more uplifted by the assured liquidity. 3. US-China trade tensions cooled off. Reasons to be Bullish: 1. There's every chance that as economy opens, the number of new cases...