IMV FOREX UPDATE
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Indian Market View (Finaux Alpha 6 Investment Advisor Pvt. Ltd.). We are a SEBI registered Investment adviser.

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Dear valued subscribers and followers, 🙏

Adhering to the health advisory regarding COVID 19, we encourage digital use to all our clients to stay safe & responsible. We may work with limited strength in the next few days hence kindly co-operate.

Wishing you good Health, Wealth & Prosperity!


Team Indian Market View 🙏
www.indianmarketview.com
Quick Update

Last week, we clearly indicated to sell Nifty future below 9650 levels.

Crashed and breached 8000 mark which is not a good sign for Nifty future. In the last 2 trading session, we had seen a dead cat bounce from lower levels and settled around 8700 mark.

Coronavirus- Conditions are not good, too much expectation from the market can be harmful

Sell on rise will be the best trading strategy with the stop loss of 8900 in Nifty future.

If break 7800 then door gets open for 7300---6900 levels too.

We are in a countdown situation, pray that the coronavirus does not expolode in India and the situation should come under control soon.

Not a good time to invest in the market until and unless you will get a positive sign from global economies. Global economy is in alarming state at this point of time. So be cautious and stay healthy.

Bank Nifty too has resistance at 21000; Downside target intact 17000


More will update during market hours to our subacribers.

Regards,
Team Indian Market View

www.indianmarketview.com
Why Gold is not performing as a safeheaven asset?

Because it's not a crises, it's a global pandemic. The condition of all countries has worsened, there is a dangerous environment of fear, coronavirus has started spreading in Italy, China, America and now also in India. Lack of money due to lockdown can hurt fixed asset class like property and yellow metal. This global pandemic will ruin the demand of luxury/investments. We still have to see how soon all countries emerge from this epidemic, which seems not so easy. So, investment in bullion is also not safe at this stage.

What to expect from here onward in Gold???

Gold has support at $1450. Two consecutive close below $1450 will take it to $1320----$1250 in days to come.

If break $1450 then stop loss will be $1520 on a positional basis.

Don't jump to buy EURUSD- Looks scary on the chart

What about Silver???

Silver has support at $11.50. Further downside panic will see on a close below $11.50 levels only but be cautious at upper levels too.

Don't expect silver to cross $15 in near terms

Trade safely with levels only, more will update to our subscribers

Regards,
Team Indian Market View
➡ Update on EURUSD

EURUSD took a sharp turn from the lower levels after a very steep fall.

The major support is 1.0660 and the immediate hurdle is at 1.0770.

Break and close above 1.0770 will see an upside move towards 1.0900---1.1050 levels in the coming days.

Fresh selling can be done only on a close below 1.0660 levels.

Trade with levels only.
▶ Forex Update

GBPUSD has its support at 1.1740 and resistance at 1.1950.

Break and sustain above 1.1950 will see upside move till 1.2130 and then to the level of 1.2200.

Fresh selling will do on a close below 1.1740 on a closing basis.

Trade with the levels only.
▶ Our sell call of USDINR proven great🥳🥳🥳

Gain of more than 11000 in just 20 lots!!! 🤑

Sell from 76.70---76.15.

Net gain for the month of March has crossed 45000/-.

Amidst uncertainties in the market, we are providing less number of calls, but maintaining profit at the same time.

Don't wait more and ping your RM now to enquire about our Currency package.
▶ FOREX UPDATE

USDCHF looks weak below 0.97150 and could test 0.96650—0.96250.
Resistance and stop loss will remain above 0.97650.

Trade with the levels only.
Government of India announced relief measures for the citizens...Rupee opened positive against US Dollar

Read our technical support and resistance levels of Major Currency pairs of the day.

Click on the below 👇 link and read full update on today's Currency levels

https://indianmarketview.com/today-currency-levels-update/
➡ Rupee touched its new record low as USDINR made a high of 76.63.

What to expect next? 🤔

The major support is formed at 75.00.

We are expecting to see a continuous upside move in USDINR till 79.00---81.00 levels in the coming days.

One can go for buying on dips!

Trade with levels only.