Published on 14/03/2017 4:01:14 PM | Source: Angel Broking Pvt Ltd

Sell NSE USDINR March between 66.90 – 67.00, SL – 67.20, Target – 66.50 / 66.20 - Angel

Posted in Currency Report | #Currency Tips #Angel Broking Pvt Ltd


NSE USDINR March (CMP – 66.7275)

 

 

NSE USDINR March as seen in the weekly chart above has opened the week with gap down at 66.9350 levels and at the starting of the week it made a weekly high of 67.11 levels. Later on prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 66.69 levels. This week prices have closed below the previous week’s closing of 67.0025 levels and finally closed 0.41% lower at 66.7275 levels. Technically, prices have formed “Bearish Candlestick pattern” which indicates further weakness.

For the next week we expect USDINR prices to find support in the range of 66.50 – 66.40 levels. Trading consistently below 66.40 levels would lead towards the strong support at 66.20 levels and then finally towards the major support at 66.00 levels.

Resistance is now observed in the range of 66.90 – 67.00 levels. Trading consistently above 67.00 levels would lead towards the strong resistance at 67.20 levels, and then finally towards the major resistance at 67.40 levels.

 

NSE USDINR trading levels for the week

Trend: Down

S1 – 66.50     R1 – 66.90

S2 – 66.20     R2 – 67.20

 

Weekly Recommendation:

Sell NSE USDINR March between 66.90 – 67.00, SL – 67.20, Target – 66.50 / 66.20

 

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