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You are here : IndiaNotes >> Market Action >> Currency

Buy USDINR: Prices expected to rise

Dynamic Equities Pvt Ltd | 28 Sep, 2017  | Follow Author | Add to my Favourites 
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USDINR: USDINR futures opened slightly higher in the last session and prices rose gradually for most of the session till high of 66.03. Prices have rallied strongly after breaking out from its strong resistance of previous multiple highs placed around 65.10 level and are expected to rise further from these levels towards next strong resistance placed around 50% Fibonacci retracement of its fall from high of 68.99 till low of 63.74, which is placed around 66.36 level. Action: Buy.


EURINR: EURINR futures opened flat in the last session and prices consolidated for the whole session in the range of 77.48-77.78 levels. Prices have been trading in a short term rising trend channel pattern and are expected to take support at its rising trend line. Prices are expected to rise from these levels towards immediate resistances placed around 77.80 and 78.30 levels. On the lower side immediate strong supports are placed around 77.40 and 76.90 levels. Action: Buy.


GBPINR: GBPINR futures opened flat in the last session and prices consolidated for the whole session in the range of 88.20-88.60 levels. Prices have been rising gradually sinces last two weeks after breaking out from its trend line resistance of previous multiple highs placed around 85.50 level. Prices are expected to continue this rally from these levels towards next strong resistances placed around 89.10 and 89.40 levels. Action: Buy.


JPYINR: JPYINR futures opened lower with gap in the last session and prices recovered for first half of the session till high of 58.78. Later prices corrected for the remaining session till low of 58.45 level. Prices have recovered strongly after taking support at 78.6% Fibonacci retracement of its rally from low of 56.54 till high of 59.56, which is placed at 57.18 level. Prices are expected to rise further from these levels towards next resistance placed at 58.95 level. Action: Buy




About Dynamic Equities Pvt Ltd

Dynamic Equities Pvt. Ltd. is a a SEBI Registered Investment Advisor and Stock Broker, a leading financial services provider, and one of the major players in the Equity markets in India. With an experience of over 15+ years in Stock Markets and Equity Research, they provide daily updated Support & Resistance of 4200 instruments across 93 exchanges and 56 countries globally. They have an in-house team of over 25 analysts. Under the guidance and mentorship of Mr. Shailesh Saraf, MD of Dynamic Equities Pvt. Ltd., these analysts are dedicately involved in guiding their clients and users of the website www.dynamiclevels.com for trading in the market. Mr. Shailesh Saraf has an experience of over 24 years in the financial market, especially in capital & derivatives market operations, trading, research and management related areas. Dynamic Levels is a website owned by Dynamic Equities Pvt. Ltd. The website can be reached at www.dynamiclevels.com.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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