Moneycontrol
Oct 18, 2016 10:13 AM IST | Source: Moneycontrol.com

Sell USDINR Around 66.95; target of 66.60: Way2Wealth

Way2Wealth has come out with its report on currencies. According to the research firm, one can Sell USDINR Around 66.95 for the target of 66.60 with a stop loss of 67.10.

Way2Wealth's report on currencies

currencies


USDINR

USDINR Oct futures opened  made an intraday high of 66.96. Later prices corrected  and consolidated in the  range of 66.84 whole session. Prices have been moving in a declining  channel pattern and taking strong resistance at downward  moving trend line and are expected to fall from this level  towards next strong supports placed at 66.60 and 66 .40 levels.  

GBPINR

GBPINR Oct futures opened  lower with gap and prices  made a fresh 3.5 year low of 81.35. Prices consolidated in  the range of 81.40- 81.60 for the whole session and are  expected to remain bearish until breaks above 82 le vel.  Prices have fallen sharply after breaking below strong  support of 86 level.  Prices are expected to give bounce  till 83 and 83.50 levels if break above 82 level. lower side strong supports are placed at 81.30 and  80.80 levels.  

EURINR

EURINR Oct futures opened  slightly lower and made an  intraday low of 73.44. Prices consolidated in the range of  73.45- 73.65 for the whole session. Prices have fallen after  breaking below strong rising trend line support and are  expected to fall further towards next strong supports  placed at 73.05 and 71.75 levels. On the Higher side  strong resistances are placed at 73.75 and 74 levels.



Pair : USDINR
Action : Sell Around
Entry : 66.95
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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