Dollar – Vs –Rupee
Closed at Rs.66.15 on 25-9-2015.
SUPPORT:-65.85 / 65.55 / 65.24 / 65.05 / 64.38
/ 63.88 / 63.64 / 63.24.
RESISTANCE:-66.37 / 66.90 / 67.72 / 68.80 / 71.25.
TECHNICAL OBSERVATION :-
It looks good and bullish on the technical
chart. After making multiple tops in the range of 66.89--66.90 recently it
corrected and now consolidating ,but if
it breaks 66.03 mark on closing basis and sustain then it will show some
weakness and correct further and break below 65.55 & 65.20 will show potential
weakness and if it sustain below it then it may come down to 64.38 / 63.88 level,chances
of coming down to these levels looks bleak at this point of time , anyway be
alert and remain watchful here , similarly moving up it will face resistance at
66.37 / 66.51 & 66.90 and once if it crosses and sustain 66.90 mark then it
may zoom to test its previous all time high of 68.80 very fast. It hangs in
balance now therefore watch out the price movement for immediate direction and
act accordingly. It is needless to mention here that the long term trend is up.
REMARKS:-The long term
trend is up and it will only be threatened if it breaks below 64.20(it changes
every day) and the trend will be in real danger if it breaks below 63.30(it
changes every day) and sustain and happening this looks a distant possibility now.
Kindly note that profit should
also be booked in trade from time to time at the appropriate points so that you
can take advantage of the market swings.
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.