USDINR 4th Feb 2016
USDINR Minor Trend is down / bearish and now is nearing over bought area. USDINR Major Trend is bullish / up. As of right now we everyone is the Indian importers fraternity is expecting US dollar to move towards 70 but as per our USDINR analysis we do not see any significant upsides now in USDINR beyond 68.50 USDINR spot levels mentioned so on higher side we recommend selling US dollar for targets of 63-63.50. As per our USDINR analysis / USDINR Prediction we expect 63.50-63 to come within the next 90-180 days and overall all major pullback post 5th Feb 2016 must be used to short the US dollar. Please understand that this trade that we are recommending / suggesting is not for 1-2 weeks it will be a positional sell call in US dollar for 90-180 days, so on rise around 68.50 short selling should be done in a staggered manner or at low risk entry points or on final reversal signals. (If you are trading only on the basis of this post then please use appropriate risk management systems and trade) when to sell, how much to sell etc all details will be given live to our clients during Indian Stock Market hours.
The fall post a topping around 68.50 spot USDINR levels is expected to be very fast and most of the exporters will be stunned by the strength of the Indian Rupee.
Good Trading To You!