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Published on 18/11/2019 10:41:26 AM | Source: LKP Securities Ltd

Prices have closed below 72.00 after forming a spinning top patter - LKP Securities

Posted in Currency Report| #Currency Tips #LKP Securities Ltd

USDINR

* On The daily chart USDINR closed slightly weak trimming some gains of past few days. Prices have closed below 72.00 after forming a spinning top patter at higher levels indicating some profit booking can be seen if prices start trading below yesterdays low of 71.93. Going ahead 72.20-72.45 shall act as supply points.

* Overall on upside prices can scale in bullish trend escalation, till the time above 71.20. On the downside 71.25-71.10 shall act as base support level, which shall act as buying opportunities.

* Technical Indicator MACD is showing signs of trend to be flat to positive, For the day it looks it can be in a range of 71.70-72.20 below 71.70 more profit booking can be seen towards 71.50

 

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