Oct 19, 2016 11:23 AM IST IST | Source: Moneycontrol.com
Sell USDINR Around 66.90; target of 66.60: Way2Wealth
Way2Wealth has come out with its report on currencies. According to the research firm, one can Sell USDINR Around 66.90 for the target of 66.60 with a stop loss of 67.10.
USDINR Oct futures opened continued to fall for the whole session. Prices have taken strong resistance at its declining trend line of downward moving trend channel. Prices are from this level towards next strong supports placed at 66.60 and 66.40 levels. On the higher side stron resistances are placed at 66.90 and 67.10 levels.
GBPINR Oct futures opened higher with gap and prices consolidated in the range of 81.70 session. Later prices broke out from this range and started recovering. Prices made an intraday high of 82.19 in the process of short covering after a sharp fall in the pair from past few sessions. Prices are expected to recover further from this level towards next strong resistances placed at 82.95 and 83.60 levels.
EURINR Oct futures opened made an intraday high of 73.75. Prices resumed selling after opening session and continued to fall for most of the session and made an intraday low fallen after breaking down from its rising trend support and are expected to fall farther from this level towards next strong supports placed at 73.05 and 71.75 levels.
Pair : USDINR
Action : Sell Around
Entry : 66.90
Target : 66.60
Stop Loss : 67.10
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