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Sell USDINR: Prices to correct further - IndiaNotes.com
Sell USDINR: Prices to correct further
Way2wealth | Published: 28 Dec, 2017  | Source : IndiaNotes.com

USDINR futures opened slightly higher in the last session and prices consolidated for the whole session in the range of 64.25-64.35 levels. Prices have been correcting gradually since last few weeks in a sideways downward trend and are expected to correct further from these levels towards immediate strong support placed around its recent low of 63.98 level. On the higher side immediate resistances are placed around 64.40 and 64.60 levels.


Action          Entry               Target    Stop

SELL          Around 64.40    64.00     64.60

 


EURINR futures opened higher with gap in the last session and prices continued to rise further for the whole session till high of 76.74. Prices have been moving in a symmetrical triangle chart pattern and taken strong resistance around its short term declining trend line. Prices are expected to hold this resistance and correct from these levels towards immediate supports placed around 76.30 and 76.00 levels.


Action    Entry                  Target    Stop


SELL    Around 76.80       76.00      77.30


GBPINR futures opened slightly higher in the last session and prices rose strongly for the whole session till high of 86.50. Previously prices have broken down from its strong support of short term rising trend line and retested the same in the previous session. Prices are expected to correct from these levels towards immediate support placed around 86.05 level. On the higher side immediate resistances are placed around 86.60 and 87.00 levels.


Action    Entry                  Target    Stop

SELL    Around 86.60        86.05     87.00

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