rjoshicool

rjoshicool Updated 

USDINR is stuck in a range for last few weeks. Both price and RSI are oscillating in a narrow range. This price action would lead to sharp one-sided move on a successful breakout. On downside, the target is around 81.90 and on the upside the target is around 83.30

rjoshicool

Gold is forming a rising wedge pattern along with a falling RSI. This signals that the upward strength is kind of lost. We may see a strong bearish move in case the wedge is broken on the downside. The strong support region is around 1725 level.

rjoshicool

DXY is forming a Head and Shoulder pattern on shorter time-frame. We may see a fall to the recent low of 104.15 if the neckline at 104.90 is broken.

rjoshicool Updated 

USDINR saw a sharp decline today. With this fall, it has touched the support region of the rising channel within which it was moving for last few weeks. As the RSI is also reaching the oversold region, I feel there might be a pause here and we may see some pullback. I will wait for the price-action to unfold during next few hours on this support region to...

rjoshicool

As expected, USDINR tool support of the rising channel's bottom and has now started moving up. I expect this upward journey to continue with targets as: T1 - 79.70 T2 - 80.00

rjoshicool

After showing a sharp fall early last week, USDINR has again started its upward journey. It is slowly approaching a strong resistance zone. This zone lies between 79.69 - 79.82. A breakout of this will clear its path towards 80.00 and then towards the recent all time high of 80.20. However, a strong rejection of this level might mean a fall back to 79.00...

rjoshicool

USDINR gave a strong upmove last day and is now out of the weekly resistance of trend-line. The resistance was broken with a strong candle and we can expect further upmove. At the same time, USDINR is testing another resistance trend-line that has been tested 3 times since 2013 and now being tested for the 4th time. A weekly close above this would mean further...

rjoshicool

Crude Oil is currently taking support of 100 EMA on Daily time-frame. If this support is broken, we may see it fell to 95 since it is a confluence zone of horizontal support and 200 Daily EMA.

rjoshicool

DXY is consolidating in a triangle. The next move will be decided by the direction of breakout. For a confirmation, it is suggested to check for the horizontal levels marked.

rjoshicool Updated 

USDINR has broken the falling trendline and also broke past an important horizontal resistance region of 78.15 - 78.20. This was broken with a huge candle. With this move, it has not only broken the horizontal and trendline supports, but also the tend of LL-LH. This is a clear bullish signal. However, we can't go away with the fact that the central bank may step...

rjoshicool

NIFTY 50 has been in a downtrend since October last year. It has continuously been forming a Lower Low - Lowe High pattern. Historically, with such a long and strong bearish trend, we have seen reversals in the zones when RSI is oversold on Weekly. In the current scenario, that is still not the case. On top of this, the only strong region of confluence is at...

rjoshicool Updated 

USDINR is forming lower-lows and lower-highs. Same is the case with RSI. I see the upward side strong resistance zone remains between 78.05 - 78.10. Till the time 78.10 is not broken on the upside, I see we may see some bearish to sideways trend in USDINR during next few days.

rjoshicool

Nasdaq 100 has been in a downtrend since last many months. I feel there is more downside, rather much more. I see may be in downtrend till late 2024 or early 2025 and it may fall till around 4,700. We saw it took support of 200 EMA on Monthly at the time of DotCom bubble and again took support of 200 EMA at the time of 2008 recession. If we are heading towards...

rjoshicool

BTC has entered a strong demand zone on monthly. This is the region of confluence: 1. Long-term trendline. 2. 78.6% retracement region. Last bullish move also retraced around 78.6%. 3. Horizontal support region. 4. Weekly RSI is the lowest of all times. It should bounce-back from this region- 19,900 - 13,200. If this level is not retained, we may see it fall...

rjoshicool

PNB has finally broken a strong resistance of a channel in which it has been stuck since the Corona impacted equity markets. With the breakout happening with high volumes and a s series of higher lows, we can see that it shall possibly sustain and reach up to the level of 59 in near future. Next target after 59 we can see is 68. For those who are not already...

rjoshicool

USD has been weak internationally. Though the effect on USDINR hasn't been that strong as compared to other currencies, but that doesn't mean that this pair is bullish. Furthermore, on seeing the chart, we can see it has been in a descending triangle since March 2020 and continuously making Lower Highs. Now, it has reached a strong support area, but a pullback...

rjoshicool

GBPINR rose to some of the highest levels recently. But the area it reached is a region where 2 resistance lines reside near to each other. Because of this, it hasn't been able to break that level and seems like it will now fall down. But, the fall shall stop around the levels of 98.00 because of a strong support region. I am bearish on this pair for next few sessions.

rjoshicool

JPYINR has been trending in a range since March 2020. Recently, it has been again towards the upper edge of the range channel. But this time, I am bullish biased on this pair. This is mainly because of 2 reasons: 1. There is an upward trendline which it has been respecting and rather it has just touched it again. 2. There has been a support area which it has been...