Predicting usdinr price before opening
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Even i m looking for information regarding usdinr. No platforms are discussing about currency derivatives.
ICICI Direct puts out daily trading range for USDINR. These can be found on MoneyControl website (Google Search)
There are many Analysis/Opinions articles about USDINR shared on Investing.com on a regular basis. Their Community section is also very active.
I have also come across a daily podcast by a company called Knight Fintech that discusses about USDINR trading range.
Lastly, Abid (@Sensibull) also touches upon USDINR trends on his daily Market Analysis show (YouTube playlist)
The USDINR option chain is accessible on NSE Website but for accessing INRUSD option chain in US Market, I think one might have to open a brokerage account with a foreign broker. I don’t have much idea about this. Maybe @Joe_Chris might have some idea about this.
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Thank you for tagging me.
q1. How do I predicate the “FUT” of USDINR before 9:00:00 India?
q2. Where do I source Open Interest or option chain data for augmenting expiry related behaviour?
A.1 You can keep a tab on the spot price close at 5 PM previous day and correlate that with the live spot rate. Since you already have the Fut closing price, you can draw up a logical conclusion.
If spot gained 20 pips, yes Fut will show an approximate gain of 20 pips when it opens.
For those who don’t want to check the eod Fut price, you can simply add anywhere between 10 to 35 pips to spot- depending on the days to expiry.
A2. Option Chain in USDINR is totally useless- atleast for me. You can find it on NSE website and sensibull among others, but it has flaws in that the greeks cannot be relied upon.
USDINR has a very sensitive support-Resistance range. If there is a positive news, and USDINR rose, it would not come down unless there is a countervailing negative news. So it has low gravity.
However, from time to time- the sentiments correct leading to a huge correction in the matter of a few candles,
USDINR is very profitable if you understand the behaviour of rates at specific long term Pivot Points- which means that if you are trading next month options, instead of weekly- you are quite insulated from needless shocks.
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Thank u so much for this information
ya even i use the same method to predict the opening but i dont feel the option chain in $ is useless , i mostly sell options only by seeing OI and charts it works out , OI is actually useful in $
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I hav found a way. I to investing.in and at 8:50 am get spot price usdjpy and jpyinr and multiple and get correct value of opening of usdinr just before opening. Pl share ur feed back