USD-INR Chart

man4urheart

Well-known member
#21
What I mean this is just a correction in larger big up trend, thats why target is 61.8% of earlier up move from 39 to 52.

If you look in post 17, we have the count done.

Triangle in making and Wave B to finish or go beyond?

Watch out for breakout on either side!
we did finish the wave count B and now in wave C, which is final wave down to 61.8%!

IF we trace back 100% to 39, I have to recount again!
 

man4urheart

Well-known member
#24


One question, if dollar goes up what should we do? As you see we are soon to begin a major advance which willl be wave 3 the most powerful and if my calculation is correct we are looking 1 USD = 60Rs

Some deductions

- If dollar goes up, US market goes down.
- Crude goes down.
- Thus, Indian market follows the path for now.
- Gold goes down too.

Big Question would infosys go up? help me?

Alchemist advise how can we gain on this front? IS it good to go in IT companies again ? The dollar effect will be neutralized by bad shape of US companies ahead which means IT companies loosing projects and reduction in revenue?
 
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Alchemist

Administrator
Staff member
#25
Alchemist advise how can we gain on this front? IS it good to go in IT companies again ? The dollar effect will be neutralized by bad shape of US companies ahead which means IT companies losing projects and reduction in revenue?
If INR goes to 60 against USD, it will be a total disaster for the Indian economy.

inflation would go through the roof.

other than the exporters, no one else will gain from such an exchange rate.

IT companies will surely benefit a lot.

gains due to weak INR would be far more than reduction in business from US/EU.

(personally, I don't think INR is going anywhere near 60).
 
#26
personally, I don't think INR is going anywhere near 60.
Alchemist, In your opinion what is the short-term trend for USD-INR? I have some USDs in my US account that I plan to bring over when the rate again (hopefully!!) tends toward 50.

if the trend is toward 40 then I would bring it in ASAP.

Regards,
Sudhanshu
 

Alchemist

Administrator
Staff member
#27
Alchemist, In your opinion what is the short-term trend for USD-INR? I have some USDs in my US account that I plan to bring over when the rate again (hopefully!!) tends toward 50.

if the trend is toward 40 then I would bring it in ASAP.

Regards,
Sudhanshu
I am a USD bear and see a long-term decline.

USD has resistance at INR 46.75 and then near 47.8.

USD is oversold and may go to 48 in the short-term.
 
#30
IS it good to go in IT companies again ? The dollar effect will be neutralized by bad shape of US companies ahead which means IT companies losing projects and reduction in revenue?
Dollar going up will help the Indian IT industry. USD at 60Rs will be "Amrit"; Even loss making fixed-price contract will suddenly turn profitable!!

If USD is going to Rs60, I will blind buy top 3 IT stock (TCS/INfy/Wipro)
 

man4urheart

Well-known member
#31
I am bullish on Dollar!

It is in powerful 3 rd wave......my count is correct!...I am looking for a target around 60 Rs on dollar...within 1 year!
 
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#33
I am bullish on Dollar!

It is in powerful 3 rd wave......my count is correct!...I am looking for a target around 60 Rs on dollar...within 1 year!
Man4-ji,

what is this mysterious "3rd Wave", you mentioned it earlier in your post on "Goldstone Technologies" too and now this thread.

Please throw some light. (probably using a thread in the "Technical analysis" section)

You always seem to be coming up with new terms. Some months ago you had "Point and Figure" charts :D

Who knows, in a few years we will be reading Man4's weekly analysis on ICICIDIrect instead of Vivek Patil
 

man4urheart

Well-known member
#35
Well USD looks to be consolidating for a big move from a triangle



If gold is going up this would be down! this would be short term and should not break 39 on Dollar, otherwise i have to recount!

43 would be a ideal target for down break side, but lets wait and see the move!
 
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