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The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Devang Shah.The information contained herein is based on my analysis of the Charts. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it. The Investment discussed & recommended on this website may not be suitable for all. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent Views, as they believe necessary.
While acting upon any information or analysis mentioned on this website, investors may please note that neither Devang Shah nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. I may hold long or short positions in the securities/commodities discussed herein from time to time. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities.

Currencies

THURSDAY, MARCH 19, 2020

Rupee

Rupee

USD/INR
VIEW POINT:
RUPEE-$74.40 ( 18.03.2020)

EXTENDING FURTHER:
EXPECTING RUPEE TO DEPRICIATE FOR HIGHER LEVELS TARGETS FROM MEDIUM TERM PERSPECTIVES TILL IT REVERSES:

Click

Rupee closed at $74.40 on 19.03.2020. Its showing sign of extension in short term. Its about to surpass its all time high levels of $74.68 levels which it made on 11.10.2018. It looks like ending diagonal case or missing last wave of extended wave-5 towards higher levels targets as per chart attached.

One can expect Rupee depreciate towards target range of -$78-$80 levels in short term till it holds above $72.50 levels in Medium term.It has strong support around $74.90 levels in short term. It has still wave-V Up pending towards higher levels targets as mentioned till it holds above $72.50 levels form medium term perspectives. Risk Reward is favourable to BUY at current levels.One should look to BUY USD/INR at current levels or any kind of decline or consolidation till it reverses form short to medium term perspectives. Its short to medium term mometum indicators are in BUY supporting overall trend.

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