66.80 tgt achieved on USDINR

On the 1st of March i initiated a sell call on USDINR on Hedge against Dollar at around 68.64 and today its target has been achieved. We have seen dollar index weakening which had its effect on our currency too. Rupee had been trading in the strict upper range today we are moving beyond the support to strengthen more. Attached chart is weekly chart and we are expecting this reversal to be strong in nature as indicators are also staring to support us. Also on daily charts, 100 DMA which was around 66.90 has been breached convincingly today. So would like to initiate a fresh strategy for the USD INR for Sell on rise.

Strategy: Sell on Rise (CMP: 66.70) SL: 67.20 tgt 65.50



Leave a Reply

Your email address will not be published. Required fields are marked *