NSE USDINR Feb (CMP – 64.5175)
NSE USDINR Feb as seen in the weekly chart above has opened the week with gap up at 64.3925 levels and at the starting of the week price made a weekly low of 64.1850 levels. Later on as expected prices could not able to sustain on lower levels and rallied sharply and made a weekly high of 64.6250 levels. This week prices have closed above the previous week’s closing of 64.2425 levels and finally closed 0.43% higher at 64.5175 levels. Technically, prices have formed “Bullish candlestick pattern” which indicates further strength.
For the next week we expect USDINR prices to find support in the range of 64.20 –64.10 levels. Trading consistently below 64.10 levels would lead towards the strong support at 63.80 levels and then finally towards the major support at 63.60 levels.
Resistance is now observed in the range of 64.80 – 64.90 levels. Trading consistently above 64.90 levels would lead towards the strong resistance at 65.10 levels, and then finally towards the major resistance at 65.30 levels.
NSE USDINR trading levels for the week
S1 – 64.20 R1 – 64.80
S2 – 63.80 R2 – 65.10
Weekly Recommendation: Buy NSE USDINR Feb between 64.20 – 64.10, SL – 63.80, Target – 64.80 / 64.90.
To Read Complete Report & Disclaimer Click Here
Click here to open demat account
For More Angel Broking Pvt Ltd Disclaimer http://www.angelsecurities.in/disclaimer.aspx
Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer