QUANT SYSTEM TRADE RECOMMENDATION - 21.04.22

From the desk of Capt.D.Ganesh Raja

Dear Friends,

Today’s update was specifically for giving trade recommendation on USD -INR currency pair. Rupee closed at 76.20 per USD and there seems to be weakness in rupee. There seems to be a upward sloping converging channel formation in the weekly chart, coupled with basing pattern at the bottom channel line. This coupled with favourable signals from proprietary indicators has prompted me to make this trade recommendation. The target of 78.09 seems likely where RBI might intervene to stabilise the rupee. Obviously with surging fuel prices they wouldn’t want to further aggravate the situation. Exactly what RBI would do anybody’s guess. The Quant system has given a buy signal in USD-INR pair as of today. Recommended to go long on USD at these levels with stop loss at 75.9, target – 78.09, leverage 2x.