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Oct 18, 2013, 12.44 PM IST | Source: Moneycontrol.com

Buy USDINR spot on dips for intraday: Nirmal Bang

Nirmal Bang has come out with its report on currencies. According to the research firm, one can buy USDINR spot on dips upto 61.05 for intraday trading. It has a good intraday support at 60.80 and resistance is at 61.60.

Nirmal Bang's report on currencies

USD/INR (SPOT) is expected to trade with a positive bias. Buying on dips upto 61.05 is recommended for intraday trading. It has a good intraday support at 60.80 and resistance is at 61.60. Expected intraday range is 61.05 - 61.55.

EUR/USD can trade with a negative bias during the day. Selling on rise upto 1.3690 is recommended for intraday trading. It has a good intraday support 1.3600 & resistance at 1.3740. Expected intraday range is 1.3600 - 1.3690.

GBP/USD can trade with a negative bias during the day. Selling on rise upto 1.6175 is recommended for intraday trading. It has an intraday support at 1.6070 and resistance at 1.6225. Expected intraday range is 1.6075 - 1.6175.

USD/JPY can trade with a positive bias but buying on dips upto 97.85 should be the strategy for intraday trading. It has a good intraday support at 97.40 & resistance is at 98.75. Expected intraday range is 97.85 - 98.75.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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