Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

USDINR: Sharp Uptrend is Brewing?

29 sec read

The daily trend of USDINR continues with higher and positive for the last 4 trading sessions and interesting volatility is also rising for the last couple of days.

Amid coronavirus fears, our entire nation goes for a lockdown of 21 days will result in the shutdown of various businesses impacts the core fundamentals of USDINR. Last Tuesday USDINR Futures ended with an extreme indication which is a clear indication of a possible gap up is brewing in the current environment.

From the market profile charts we learned that too many weaker hand sellers competed around ATH. A Fresh All time high is due in a very short term

Overall a strong short-covering rally is due in USDINR in a near term reaching 77-78 levels faster with a possible gap up scenario.

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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