USDINR View next expiry view

USDINR has broken down and then took support with bullish divergence
it has a good resistance of long term EMAs (200 EMA and 50 EMA) also now
Looking at Bollinger bands also it seems they are squeezing... confirming the view of price going sideways
range - between 76 and 75

Recommendation : I am going for monthly expiry short iron butterfly.
As monthly future is trading at 75.93 (round to 76)
My straddle will be of 76 (CE & PE) Sell
and will hedge both up and down with 76.25 CE Buy and 75.75 PE Buy
Risk / Reward for 100 lots : 2000 / 23000
Very good RR ratio
Margin required : 2,07,000 approx...

Plan your Trade ! Trade your Plan !
Chart PatternsTechnical IndicatorsneutralTrend AnalysisUSDINRusdinranalysis

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