India Rupee has been rallying in last few days and made a new life time low today.
Fundamentally Rally in Rupee is due to 3 Reasons as mentioned
- Broad dollar strength,
- Trend in crude oil prices and
- Emerging-market currency movements, The way LIRA crashed has an sentimental impact on all Asian Currencies.
On Technical Front as per Gann Analysis Rupee is on Verge of doing Price Time Squaring Maximum Upside for this move can be in range of 70.5-70.76
Major Trend Change date for INR are as Below
- 16 Aug
- 22 Aug
Traders with Good Risk Appetite and who are disciplined can take Shorts below 70.30 With SL 70.8 Tgt 70/69.77/69.2/68.7
Levels Mentioned are for Aug Contract of USD INR