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USDINR

USDINR - 20Dec2021USDINR - 20Dec2021 On the weekly, price faced bearish pressure from 1st Resistance at 76.40 as expected. We could expect the price to pull back to at least 75.83. It is also worth noting that USDINR is currently moving inversely of DXY. If DXY strengthens, USDINR drops. On the H4 timeframe, price is coming into support area at 75.8665. We could expect a short-term bounce from this level. This is for personal record purposes only, not financial advise or solicitation of trade.
Long
by TTMFS
USD/INR long, 22 of novemberHi everyone! In the previous idea I expected growth after a figure a triangle, but it did not take place. Now USD/INR pair reached the trend line again on the week chart which the price repeatedly beat off. Now I expect price movement to level 1.618 according to Fibonacci up (also as happened to USD/TRY). It is confirmed also by technical indicators. Also I marked in the karsny color strong support and the price is directly naety level now. Bought on 74.33 TP = 77.42 SL = 73.829 Information provided is only educational and should not be used to take action in the market.
Long
by Yuriy_Kuznetsov
USD/INR Forecast: Indian Rupee on the RopesThe US dollar has gone back and forth during the trading session on Thursday as we hang around the ₹75 level. The ₹75 level in the past has been resistance, and it certainly looks as if it is the same situation now. I believe the market testing this major resistance barriers a sign of just how weak India is at the moment, as traders around the world continue to run away from risk. After all, with a new variant of coronavirus, a lot of people are a bit concerned as market participants continue to be worried about lockdowns. The US dollar is strong not only do to that, but the fact that the US economy is one of the stronger economies in the world. As long as the US economy continues to strengthen in general, that will more than likely work against India, unless of course the global supply chain start to open up again. Ultimately, the market is likely to continue to see a lot of momentum chasing, but we need to break above the ₹75.20 level to clear the short-term resistance. At that point, then it is likely that we go looking towards the ₹75.50 level. If we do break down from here, I see a significant amount of support underneath at the ₹74.50 level, where the 50 day EMA currently resides. Furthermore, it is starting to tilt to the upside, so that suggests that we are going to have more momentum from intermediate traders as well. It is not until we break down below that level that I think we might have a bit of trouble showing up in the market again. The market will continue to see a lot of noisy behavior based upon risk appetite, as the Indian rupee is of course an emerging market currency. EM currencies have struggled lately, as I have been observing in the South African Rand, Hungarian forint, and many others that I prefer to trade. Ultimately, I believe that the market will eventually go looking towards the ₹75.50 level, but it may take a while to get there. After all, this is a market that tends to be more of a grind than anything else, but as long as the US leads the world, it is difficult to imagine this market breaking down for any significant amount of time.
ULong
by SmoothJB
3 Indian IPOs To Watch In 2022India has, in the past, been called the “next China” for possessing some of the same growth potential and investment opportunities. The truthfulness of this claim was supported recently when Chinese authorities began cracking down on its tech sector giants, prompting investors to look elsewhere for a more reliable home for their money. Coincidently, Indian tech companies are currently experiencing a boom, with Paytm (NSE: PAYTM) and Zomato (NSE: ZOMATO) going public in 2021 and producing some of the country’s largest IPOs to date. While opportunities can be found outside India’s stock exchanges, I want to explore these regulated markets and upcoming IPOs in this article. India’s stock exchanges India is home to eight stock markets with its listed companies worth a combined US $3.46 trillion. To put this into perspective, UK listed companies are worth a total of US $3.59 trillion, less than US $100 billion more than the former British colony. By 2024, Indian listed companies are projected to surpass the value of UK companies’ value and hit approximately US $5.00 trillion. Hosting these companies are the countries well-known exchanges, including the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), and the Multi-Commodity Exchange (MCX) 3 Indian IPOs to watch in 2022 Snapdeal IPO Snapdeal is an Indian e-commerce platform catering to the country’s growing middle class, similar to the US’s Amazon.com (NASDAQ: AMZN) or China’s Alibaba (HKG: 9988). The Company is said to be ready to file preliminary documents signalling its intent to IPO next year at a valuation of approximately US $1.50 billion. Snapdeal is currently backed by Japan’s Softbank (TYO: 9984) and China’s Alibaba Group, which are expected to continue to hold significant stakes after the Company’s IPO. Data Patterns (India) IPO Data Patterns has developed a vast array of electronic systems for the defence and aerospace sectors for the past 35 years. The Company filed to IPO with regulators in September 2021, expecting to raise ₹700 crores, or US $100 million, to help it repay debt and aid expansion. The funds will assist Data Patterns to deliver on its order book, which has grown by 40.7% over the past four years. Data Patterns is seeking a valuation of US $340 million when it goes public. However, no official date has been scheduled for its IPO. MapMyIndia IPO The digital mapping company, headquartered in Delhi, MapMyIndia, develops mapping technology used by some of the world’s largest companies. The Company has received approval (as of the last week of November) from the country’s financial authority to go public. MapMyIndia is perhaps the highest-profile Company on this list, with business relationships with US tech giants Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN) and Uber Technologies (NYSE: UBER), among others. MapMyIndia is seeking a valuation of US $825 million when it IPOs, which it could do before the end of the year. The Company has expressed that the funds will, in part, be used to lift its marketing, helping it compete with the likes of Google (NASDAQ: GOOGL) and Dutch-based TomTom (AMS: TOM2).
NSE:ZOMATO
by BlackBull_Markets
USDINRThe US dollar has enjoyed a relatively large move to the upside against multiple currencies for the last couple of months. It has been no different againts the Indian rupee, as emerging markets in general have struggled. With concerns about increasing coronavirus figures, global growth slowing down, and simple inflation, the US dollar has been what most people have been willing to bet on. Recently, we have seen the interest rates in America rise, only to turn back around as traders trying to figure out what the Federal Reserve is about to do. With the concern about supply chain issues, it has made trading the markets very difficult over the last couple of months. However, the Reserve Bank of India keeps a close eye on this exchange rate, thereby setting a nice opportunity for those looking to trade a range-bound market. Nonetheless, we have certainly seen quite a bit of upward pressure as of late, and sooner or later the US dollar should prevail. As things stand currently, the 75.50 rupee level seems to be very difficult to break above. We had tried to break out during the previous month but failed. You can see there is a weekly shooting star right at that level, which will attract a certain amount of attention by technical traders. Another thing to pay attention to is that we have seen a significant amount of support near the 73.50 rupee level, so I think this will be your range for the month. It certainly looks as if there is more of an upward tilt in this market, which makes sense considering just how well the US dollar has done against multiple other currencies. All one has to do is look at the euro, pound, or even the Japanese yen over the last several weeks. In a scenario where the US dollar is acting like a wrecking ball against so many of those currencies, a smaller one like the Indian rupee certainly stands no chance. Ultimately, I believe this will be a “buy on the dips” scenario over the next several weeks. Also, the market has the 50-week EMA just below, so that could give a little bit of psychological and technical support to the greenback. If we can break out to the upside and above 75.50, then 76 will be targeted.
ULong
by SmoothJB
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