Dollar – Vs –Rupee A TECHNICAL VIEW)—21.4.2021

 

Dollar – Vs –Rupee

 Dollar   closed at Rs.75.44 on 20.4.2021. 

SUPPORT:75.05/74.98/74.86/74.52/74.43/7429/74.16/73.97/73.64/73.39/73.14/72.95/72.80/72.71/72.29---72.25. 

RESISTANCE: 75.51/75.78/76.34/76.8/77.34/77.42/77.45/77.75/78.35/79.30. 

TECHNICAL   OBSERVATION :- 

It is  bullish on the chart but weekly chart will pose some hurdles at the higher levels and the critical resistance points moving up would be at 75.51---75.78---76.22---76.41, please note that sustained close above 75.78 will make sure that it could rise further and if it could move above 76.41 and sustain on the closing basis then it could retest its all time-high of 77.45 or may go beyond to the level up to 77.75---78.35---79.30, chances of retesting its all time-high is pretty bright at this point of time. The overall technical setup is good as of now and long term bias is on the upside as long as it holds the range of 73.95---73.25(these figure can change) levels. Please note that sustained break below 73.25 on the closing basis can potentially threaten the uptrend.

Remarks:-- The long term trend is bullish now, it is suggested to structure your trade with the help of support ,resistance other critical points mentioned above. The bias is positive as of now.

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

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.