Moneycontrol
Oct 17, 2016 10:38 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.

Way2Wealth's report on currencies

currencies


USDINR

USDINR  Oct futures  opened flat and prices started falling  after taking resistance at its short term declining trend  line in the  previous session. Prices fell for the whole  session and made a low of 66.80 at the closing time.  Prices have been trading in the downward channel  pattern and are expected to fall further from this level  towards next strong supports placed at 66.60 and 66.4 0  levels.

GBPINR

GBPINR Oct futures  opened  flat and prices initially fell in  the intraday and made a low of 81.50. Prices recovered  later in the remaining session and closed at 81.81. Prices  have taken support after a long  time  losing streak from  the past 2 - 3 weeks after breaking below the rectangle  candlestick pattern. Prices are expected to remain  bearish till 80.80 level in the next few sessions if break  below the strong support placed at 81.40 level.

EURINR

EURINR  Oct futures  opened  flat and prices resumed selling  after falling sharply in the past few sessions and made a  fresh 6 months low of 73.63. Prices have fallen after  breaking down from the short term rising trend line  support and are expected t o fall further from this level  towards next strong supports placed at 73.40 and 73.10  levels. On the higher side strong resistances are placed at  73.95 and 74.20 level.



Pair : USDINR
Action : Sell Around
Entry : 66.90
Target : 66.60
Stop Loss : 67.10

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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