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Sell USDINR: Immediate support placed around its recent bottom of 63.38 level - IndiaNotes.com
Sell USDINR: Immediate support placed around its recent bottom of 63.38 level
Way2wealth | Published: 25 Jan, 2018  | Source : IndiaNotes.com

USDINR: USDINR futures opened sharply lower in the last session and prices consolidated for the whole session in the range of 63.62-63.72 levels. Prices have corrected gradually after taking strong resistance at its rising trend line breakdown level and are expected to correct further from these levels towards immediate support placed around its recent bottom of 63.38 level. On the higher side immediate resistances are placed around 63.80 and 64.05 levels. Action: Sell.

 

EURINR: EURINR futures opened higher with gap in the last session and prices rose gradually for most of the session till high of 78.63. Prices have continued its rally in the last session after breaking out from its narrow range of 78.10-78.40 levels. Prices are expected to rise further from these levels towards immediate resistance placed at its recent high of 79.00. On the lower side immediate supports are placed around 78.40 and 78.10 levels. Action: Buy.


GBPINR:
GBPINR futures opened strongly higher with gap in the last session and prices rose further for most of the session till fresh one year high of 89.82. Prices have been rising strongly since last two weeks after breaking out from its short term declining trend line resistance and are expected to rise further from these levels towards next strong resistance placed around 90.30 level. On the lower side immediate supports are placed around 89.40 and 88.80 levels. Action: Buy.


JPYINR:
JPYINR futures opened higher with gap in the last session and prices rose strongly for most of the session till high of 58.17. Prices have rallied strongly in the previous two sessions after taking strong support around break out level of its short term falling trend channel pattern. Prices are expected to rise further from these levels towards next strong resistances placed around its previous swing highs of 58.32 and 58.78 levels. Action: Buy.

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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.