The Relative Strength Index (RSI) of USDINR also provides us with another valuable insight. When the RSI is above 70 the chances of dollar prices reversing are high. We have witnessed this seven times in the last 10 years. Currently, the RSI of USDINR is in the overbought zone and trading above 70. This indicates the possibility of depreciation in USD and an appreciation in INR.
Nilesh Shah on why you should never predict the market
Nilesh Shah of Kotak AMC has advised people not to try to predict the market, stating that more often than not, they will be wrong.