Just 3 weeks back, we have seen the support at 0.88 break down and the selling pressure began…
There were also some signs of the downtrend forming and hence some downside targets were drawn on this break down…
1st target was at 0.80 as seen below…
Downside targets were reiterated again over the past 2 weeks when more bearish price actions started to play out again…
Downtrend also continued as per target drawn…
We also had a bearish signal on the PTI system….
Over the past few days, we have seen the 1st target at 0.800 hit already on the back of the property measures introduced by the government…
Seems like that has given way as well…
2nd target to 0.76 may be on tracked…
Would be good to cover shorts too if you have rode downside…
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Targets have been revised lower as of now…. Let’s see if that plays out too…. Cautious long for now…
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