Rupee Vs Usd (Spot) Inr: Minor Correction To Sideways Volatility Likely
A correction of the rise from 63.64 to 66.90 could be witnessed unless immediate rise and close above 66.90 is witnessed.
The retracement levels are placed at 65.69, 65.37 and 64.84.
Extreme near term objective can be to test the retracement levels with volatility
.Rise to higher range of 66.12-66.42 is to exit long and take profits.
Broadly, till the peak of 66.90 is not crossed the bias remains to take profit and exit long position on the rise.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Long
65.96
65.3
UP
64.3
11.08
65.53
65.83
65.99
66.12
66.42
*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
64.31
-0.92
52.25
-27.23
0.59
-1.90
48.30
-1.68
Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.
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