Hi friends,
USDINR had a steep rise last year may onwards after breaking out
from triangle,It did 54-68 in matter of 4 months ,September 2013 USDINR topped and its
been correcting that rise , Recently USDINR broke a important support of (60.70-60.50)
The next logical support comes at 58,57 and lastly 56.
Lets look at the bigger picture ,Let me put up monthly chart .
The chart is well labled
,I am taking the current
fall as d wave fall which
can ideally target 58,57.
Thats when the USDINR
can revese back to do its
e wave up ,An interesting
observation C=1.61(A).
My expectation according
to wave principle would be
to see USDINR back to 69-70 levels in E wave up,What fundamental change can ignite
this rally is yet to be seen ,Lets see where d wave ends and we can figure out targets of
e up.
Regards
Rish
USDINR had a steep rise last year may onwards after breaking out
from triangle,It did 54-68 in matter of 4 months ,September 2013 USDINR topped and its
been correcting that rise , Recently USDINR broke a important support of (60.70-60.50)
The next logical support comes at 58,57 and lastly 56.
Lets look at the bigger picture ,Let me put up monthly chart .
,I am taking the current
fall as d wave fall which
can ideally target 58,57.
Thats when the USDINR
can revese back to do its
e wave up ,An interesting
observation C=1.61(A).
My expectation according
to wave principle would be
to see USDINR back to 69-70 levels in E wave up,What fundamental change can ignite
this rally is yet to be seen ,Lets see where d wave ends and we can figure out targets of
e up.
Regards
Rish
helllo rish.
ReplyDeleteas u r expecting 69-70 levels that means u see a steep correction in indices. as in past when usdinr touch these levels indices were at 16000 for sensex and 4800 for nifty. so what you take on it. do indices give you the same hint this time too.
Yes some cut surely i expect but not very severe cut ,And you see usdinr is not in sync with nifty always last high 68 we did and nifty was near 5100
ReplyDeletecould you give some analysis that at which level nifty will top and after that what is the level at which you thk nifty will take some support
ReplyDeletesir at what level u think nifty reverses.
ReplyDelete