Morning !
This is the first post i am writing for USDINR. It is at a very critical juncture of reversal. Recommending a buying trade for USDINR Future April Expiry in the zone of 65.15-64.95 with a strict SL of 64.75 and a positional target of 6 to 9 months for a price of 70.
This is a trade that needs to be rolled over if taken....with a risk reward ratio of almost 1:20.
Where 0.25 is Risk on downside as SL and 5 points is upside as target.
Remember adhere to strict SL as it is only given basis due anaylysis because if that SL is taken out then it can create a sudden panic for the buyers.
Will update on NIFTY and BANKNIFTY too over this weekend. As we have noticed that NIFTY has entered that zone of 9150-9250-9350 and BANKNIFTY has again made a new high on upside today with 21376.15. This upside is about to get over soon as mentioned in my previous post on 13th March.
Dow Jones too is on verge of reversing for further upside above 21119 for 21500-21700 zone as the last upside.
Stay tuned and gear up for the ride of a lifetime.
Happy Trading !
This is the first post i am writing for USDINR. It is at a very critical juncture of reversal. Recommending a buying trade for USDINR Future April Expiry in the zone of 65.15-64.95 with a strict SL of 64.75 and a positional target of 6 to 9 months for a price of 70.
This is a trade that needs to be rolled over if taken....with a risk reward ratio of almost 1:20.
Where 0.25 is Risk on downside as SL and 5 points is upside as target.
Remember adhere to strict SL as it is only given basis due anaylysis because if that SL is taken out then it can create a sudden panic for the buyers.
Will update on NIFTY and BANKNIFTY too over this weekend. As we have noticed that NIFTY has entered that zone of 9150-9250-9350 and BANKNIFTY has again made a new high on upside today with 21376.15. This upside is about to get over soon as mentioned in my previous post on 13th March.
Dow Jones too is on verge of reversing for further upside above 21119 for 21500-21700 zone as the last upside.
Stay tuned and gear up for the ride of a lifetime.
Happy Trading !
yeah... I am eagerly waiting for your updates.... btw... your previous call related to Maruti seems pretty good...
ReplyDeleteThanks,
MJ: thanks for the appreciation....MARUTI from 5800 went upto 6226 but did'nt surpass 6233 on upside and came down till 5935....lets see whether it still makes on upside or not or reverses from here....IF AT ALL MAKING SELL...then consider selling below 5900 ONLY....hold on to this trade...if it breaks 5900 in coming week....then it is crashing....otherwise revisitng 6233 on upside..
ReplyDeleteHi Abhishek,
ReplyDeleteSince USDINR has already hit your SL (64.75), should I assume your call is closed? What's next?
MJ: Yes....i mentioned it has a strict SL of 64.75 and also mentioned that if that level breaks.....there will be a sudden panic.....i too had options trade on USDINR call...that i covered on friday morning itself...because i could see it breaking during the day...watching the intraday movements.....on thurday it closed below 64.75 at 64.73.....and on Friday morning...i covered my position almost on break even when it opened gap up....and then it was a sudden panic after breaking 64.75 and went onto fall for another 44 paise...till 64.31.....which was further double points of the SL i had mentioned.....However....though i have also cut my position as per my strict SL...but still there is one more last level of 64.1550 on closing basis...i might post another post over the next 4 days for all NIFTY...BANKNIFTY...and USDINR....sell for both indices and buy for the currency pair again...because a reversal for indices and currency pair is very near.
ReplyDeleteok... Thanks for responding! I am awaiting your next post... although I too feel, nifty/bn look tired and ready for sell at least for medium term...
Delete