Way2Wealth has come out with its report on currencies. According to the research firm, one can Buy USDINR above 67.35 for the target of 67.85 with a stop loss of 67.09.
Way2Wealth's report on currencies
Past sessions price action has changed our view fro m bearish to bullish. Prices opened with a minor posi tive gap and ended at 67.30 with a bullish candle coupled with uptick in volumes. Next stiff hurdle is pegged at 67.66 levels above which prices can shoot up sharply. Daily RSI has.
GBPINR opened the past session with huge negative g ap and ended with doji candle. Prices are previous swing low of 93.70. Daily RSI is valued at 35.77, thus, still there is a room for further down side.
EUR opened the past session with negative gap and concluded with bullish engulfing candlestick pattern. Daily RSI has rolled back to the buy side. short- term upside reversal in the pair.
Pair : USDINR
Action : Buy above
Entry : 67.35
Target : 67.85
Stop Loss : 67.09
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.The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jun 14, 2016 10:24 am