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INDIAN RUPEE / U.S. DOLLAR

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INRUSD trade ideas

Whether it is a double zigzag/motive wave it ends >72.2950The current corrective wave might be at wave 5 of motive wave A as shown below OR At wave C in Wave Y of a double zigzag as shown below Whatever might be the count, it's end might be at 72.65 - 72.5 In either of the cases (whether wave C in Y or wave 5), if predicted correctly as an ending diagonal, this wave should end by 05 or 06 Feb/2021 but at not less than 72.2950. If the price crosses below 72.2950 then this wave count should be relooked. Comments are welcome to answer whether this complete correction wave is a double zigzag or a motive wave A !!.
Short
by Hari-Ram-Kumar
USDINR: Headed to 75.5Wave A & B are done, wave C is overdue now. At the least C should be equal to A, providing for a ball park goal / target of 75.5. Rupee getting weaker has seldom coincided with Nifty keeping going higher. Most of the time Stockmarket goes down whenver the value of Rupee goes down. It happened during September-October '20 also within this madenning equity "rally" Caveat: Do never overstretch intermarket relationships. The Delta of change in the value of Nifty to Change in USDINR is not constant either. This is a broad relationship. Hear out the entire video recroding for further caveats and how am I using this chart. This chart prevents me to be an equities bull in abandon. Not yet short on equities, yet not willing to expand exposure on the long side on equities. Once the USDINR chart starts producing the C wave and the uptrend line on Nifty breaks thats when one will trade on the short side on equities.
Long
by SushilKedia
1
ridethepig | India marking a major highA flawless call in Nifty (Indian Equities) from the highs before Covid to the lows and back up in the opposing direction. We should all have made a killing on India, the pseudo-classical school always considers technical analysis as inferior, however this is not the case. As a main theme, INR buyers now choose to load for 68-66 which is the new base for 2021. The decade ahead looks positive for India and they will start playing a considerably louder position in geo-politics for the coming years. We are talking about a -8% devaluation from current levels. You can ask, what about pips? Well... pips are for pipsqueak's ... this is macro trading, rather than struggling daily this judgement carries strength in the MT and LT and ought to sound something like "watching paint dry". That is the real truth which my models have discovered about this leg lower in USDINR. You will find further considerations of the Indian macro picture in the end of year wrap up and the 2021 maps coming in the following weeks. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
4