The US Dollar Index can strive for March highs of 105.88 in the best-case scenario, where risk increases. In that case, the USDINR may also test its strong resistance area in the 82.80–83.00 zone on the spot. Since the central bank manages volatility aggressively practically every day in the OTC/NDF market, we would anticipate that it will continue to do so. As long as prices don’t drop below 81.60 on spot, positional traders can try to purchase the dips. On May futures, traders opting for a shorter stop loss can place stop orders below 81.85 levels; nevertheless, a breach below 81.85 would be detrimental to the nascent upward momentum. Given that external risks are increasing and option premiums or implied volatility are still at historically low levels, we advise against shorting options at this time. On the spot market, immediate resistance lies between 82.30 and 82.60 levels.
Falling inflation, rising forex reserves, strong economy and fading romanticism with post COVID china… All factors are in place for further improvement in inflows into Bharat. Now only thing left is For US rate cycle to turn decisively downward
USD INR Gann Angle Chart
The price continues to get support from 81.60-81.85 range, Heading towards 83 till holding 82.
USD INR Plannetary Support and Resistance Line
Indain Rupee is above Venus Plannetary line heading towards 82.50/82.75
USD INR Harmonic
Price is heading towards 81.50/81 to complete GARTLEY pattern.