Moneycontrol
Jun 16, 2017 11:13 AM IST | Source: Moneycontrol.com

Buy USDINR; target of 64.90: Way2Wealth

Way2Wealth has come out with its report on currency. According to the research firm, one can buy USDINR for the target of 64.90 with a stop loss of 64.30.


Way2Wealth's currency report on USDINR


USDINR futures opened slightly lower in the last session and prices recovered strongly for the whole session till high of 64.63 level. Prices have made a bullish engulfing candlestick pattern on the daily chart which is suggesting a potential trend reversal in the pair for the near term. Prices are likely to recover further from these levels towards next strong resistances placed around 64.90 and 65.10 levels.

Pair : USDINR
Action : Buy
Entry : 64.50
Target : 64.90
Stop Loss : 64.30

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.

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