Way2Wealth has come out with its report on currencies. According to the research firm, one can sell GBPINR below 97.60 for the target of 97.12 with a stop loss of 97.92
Way2Wealth report on currencies
Pair in the past fell to lower levels of 66.5250 but failed to end around the same and rebound from those levels to end with doji candle.This can trigger minor pair and same should be used to initiate short positions.
GBPINR penetrated the rising resistance line of the expanding triangle chart pattern in the past session but failed to end above the same and ended with gravestone doji.This can possibly mark and end to the current up wave.
EURINR opened the past session with positive gap and ended above the rising resistance line with strong volumes. This can take the prices to higher levels of 77.94.
Currency : GBPINR
Action : Sell below
Entry : 97.60
Target : 97.12
Stop Loss : 97.92
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 May 4, 2016 11:46 am