Dollar – Vs –Rupee
Dollar closed
at Rs.62.51 on 12-12-14
SUPPORT :-61.81 / 61.65 / 61 / 60.89 / 60.64.
RESISTANCE:-
62.55 / 63.08 / 63.32 / 63.90 / 64.54.
TECHNICAL OBSERVATION :-
The
technical chart is nicely placed and showing good strength which is indicative
of reasonable to significant rise ahead in coming days, therefore long position
should be held and fresh position can be added- on dip but one should get
alerted if it breaks 61.70 and exit long trade if it close below 61.50, chances
of hitting these levels looks slim at this point of time. Going up it will face
good resistance in the range of 64.20—65.35.It will get good support in the
range of 61.77—61.65.I therefore suggest to adopt buy on dip strategy as of
now.
REMARKS:-The long term trend is up, therefore I suggest to take
long call on dip.
Kindly note that make your cost your
stop loss in favorable trade and then
trail it as the price move up/down to gain maximum profit and avoid losses. Use
support and resistance levels as entry, exit, target and trailing stop loss
points. DO NOT TRADE WITHOUT STOP LOSS.
Disclaimer:-The
view expressed here are solely of the author and he is not at all responsible
in any way for the outcome of the trade you enter based on the above view.
Note: Price stated here is of spot market
Contact
me for strategic guidance to enter and exit the trade
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Thank you for sharing your views.