Oct 18, 2016 10:13 AM IST 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.
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 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 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
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