9 Forex - USDINR

The rupee is likely to gain against the dollar as investors may go for riskier Indian assets after the government announced further reforms on 5th October 2012. Post market hours, the Union Cabinet cleared the long awaited companies, pension, and insurance bills. Market players will track the euro for further cues. 0n 5th Oceobter 2012, the euro rose on renewed hopes that Spain will finally seek a bailout from the European Central Bank. If the euro continues to remain strong in early Asian trade Friday, the rupee will receive good support. However, demand for the green back from crude oil importers at lower levels may cap the rupee's rise. Dollar is in oversold zone, and hence may see some pull back, which could weigh on the rupee. Many currency players also expect the Reserve Bank of India and importers to buy dollars around 52.0000 per dollar levels, after rupee's sharp rise in the past two weeks.

USDINR has closed above 61.8% retracement and pull back is very much expected. Risky Trade, i will open this trade next week by going positional long if it manages to trade above 52 for a target of 54.10, 56.50+ with a stop loss of 51.20

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  1. USDINR From 52.30 to 53+...Enjoy!!!

  2. USDINR has taken support and modifying stop loss to 51.90..Enjoy!!!

  3. USDINR CMP 53.10..I have Book 50% positions now at 53.10 and rest will be trailing with 52.70 as strict stop loss.

  4. USDINR Target 1 achieved. I am still holding my positions with strict stop loss of 52.95...will book 50% positions on opening and rest will be trailing with stop loss 52.95...Enjoy!!!

  5. USDINR CMP 54.35....90% Gain in this call...I invested 1 lakh Rs in this call and gained close to 90,000 Rs profit. Not yet booked remaining 50% position and still holding for Target 56.50+

  6. WOW moment....USDINR touched 54.94 and closed at higher side 54.88. I am going to book full today at 55.10 or CMP which ever is higher...Enjoy this huge profit..!!!!

  7. USDINR is now trading at 54.63 and i have not yet booked TSTL is now 54.10

  8. USDINR is closed at 55.25 and high 55.26...TSTL is now 54.70..I am still holding 50% position for Target 2...Enjoy this huge profit...!!!

  9. USDINR CMP : 55.50 i am still holding my positions and will book at TG2 only..No change in TSTL.


Thanks for giving your valuable inputs, TRENDGURUS


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