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USDINR: Still holding above the supports; Buy

Way2wealth | 11 Jan, 2018  | Follow Author | Add to my Favourites 
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USDINR: After opening at 63.75 USDINR pair surged till the high of 63.97 but if failed to sustain and once again dipped lower and finally ended on a flat note at 63.75 mark. The Pair has settled just above key juncture, if the it break below 63.65 then it will slip into bearish. As the pair still holding above the supports we recommend buying around 63.72 with strict stop loss at 63.60. Action: Buy.

 

EURINR: Yesterday, EURINR pair moved up sharply after opening at 76.20 and tested the downward slanting trend line of 76.59 and finally ended at 76.54. The pair has moved up before testing downside trend line supports of 75.80 levels. The slanting trend line resistance is at 76.86 and the support is at 75.80 levels. Ahead, we recommend selling on rise around the resistance of 76.70 for supports levels of 76.24 then 76.04 levels. Action: Sell.


GBPINR: As expected the GBPINR inched slightly higher till 86.52 and finally ended at 86.38 forming doji candlestick pattern. The Pair is still moving within the narrow range of the triangle pattern and the resistance of the same is at 86.75. Thus, it is likely extend till the given resistance 86.75 and recommend buying on dips around 86.25 levels for the day. Action: Buy.


JPYINR: In line with expectation, JPYINR opened higher penetrating the immediate trend line resistance and surged till the high of 57.29 and finally ended at 57.22 gaining 0.96%. The Pair has given bullish breakout and ahead we expect it to head till 57.50 then 57.65 levels. However, due massive gains minor correction can be noticed ahead of profit booking so we recommend buying dips around 57.00 for above mentioned targets. Action: Buy.


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Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.

 

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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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