Contact Us | Log In
Search
Sensex: 33342.8 +236.00 Gold: Rs.29653.00
Nifty: 10283.6 +68.80 Silver: Rs.39847.00
Sell USDINR: Prices likely to correct further if it sustains below its immediate support - IndiaNotes.com
Sell USDINR: Prices likely to correct further if it sustains below its immediate support
Way2wealth | Published: 27 Oct, 2017  | Source : IndiaNotes.com


USDINR: USDINR futures opened lower with gap in the last session and prices fell till low of 64.71 in the opening session. Later prices recovered and consolidated for the remaining session in the range of 64.72-64.92 levels. Prices have fallen after taking strong resistance around 65.20 level and are expected to fall further if sustain below its immediate support of 64.75 level towards next strong support placed around 64.40 level. Action: Sell.


EURINR: EURINR futures opened slightly higher in the last session and prices consolidated for most of session in the range of 76.50-76.75 levels. Prices have been trading in a narrow range after breaking down from its symmetrical triangle chart pattern and are expected to correct further from these levels towards next strong support placed around 23.6% Fibonacci retracement of its rally from low of 68.21 till high of 78.29, which is placed at 75.90 level. Action: Sell.


GBPINR:
GBPINR futures opened sharply lower in the last session and prices fell further for first half of the session till low of 85.45. Later prices recovered strongly for the remaining session and closed around 86.06 level. Prices have been taking strong support around its previous rising trend line break out level and closed above the same for the last few sessions. Prices are expected to rise from these levels towards immediate resistance placed around 86.60 level. Action: Buy.


JPYINR: GBPINR futures opened flat in the last session and prices corrected for first half of the session till low of 85.49. Later prices recovered strongly for the remaining session and closed around 85.70 level. Prices have taken strong support around its previous rising trend line break out level and closed above the support level for the last few weeks. Prices are expected to rise from these levels towards immediate resistances placed around 86.20 and 86.60 levels. Action: Sell

  Read full report Click here to read the full report


About Way2wealth

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.

 

For more information please write in to editor@indianotes.com

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.