ridethepig | India marking a major highA flawless call in Nifty (Indian Equities) from the highs before Covid to the lows and back up in the opposing direction. We should all have made a killing on India, the pseudo-classical school always considers technical analysis as inferior, however this is not the case.
As a main theme, INR buyers now choose to load for 68-66 which is the new base for 2021. The decade ahead looks positive for India and they will start playing a considerably louder position in geo-politics for the coming years. We are talking about a -8% devaluation from current levels. You can ask, what about pips? Well... pips are for pipsqueak's ... this is macro trading, rather than struggling daily this judgement carries strength in the MT and LT and ought to sound something like "watching paint dry". That is the real truth which my models have discovered about this leg lower in USDINR.
You will find further considerations of the Indian macro picture in the end of year wrap up and the 2021 maps coming in the following weeks.
Thanks as usual for keeping the feedback coming 👍 or 👎
