01-01-1970 12:00 AM | Source: Axis Securities Ltd
GBPINR opened with a downward gap however buying momentum throughout the session - Axis Securities
News By Tags | #5481 #2767

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USDINR

USDINR opened with an upward gap and remained in positive terrain throughout the day. USDINR closed at 81.71 with a gain of 0.73 %. On the daily chart USDINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias USDINR is moving in a Higher Top and Higher Bottom formation on the daily chart indicating sustained up trend. Currently USDINR is sustaining above its 20 and 50 day SMA which support bullish sentiments in near term. For the day if USDINR trade and sustains above 81.75 levels then it may move further upward towards 81.95-82.10 levels. On the downside an immediate intraday support is around 81.40 levels. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

EURINR

EURINR opened with downward gap and remained extreme volatile throughout the session.. EURINR closed at 78.73 with a loss of 0.61 %. On the daily chart EURINR has formed a long Bearish candle forming lower HighLow compare to previous session indicating negative bias. EURINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. EURINR is trading below 20 and 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if EURINR breaks and sustains below 78.45 level it would witness selling which would lead EURINR towards 78.25-78 levels. Important Resistances for the day are placed at 79.40- 79.60. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias

JPYINR

JPYINR opened with downward gap and remained extreme volatile throughout the session.. JPYINR closed at 56.66 with a loss of 0.27 %. On the daily chart JPYINR has formed a bearish candle however it remained restricted within previous session's High-Low range indicating absence of strength on either side JPYINR continue to move in past couple of trading session's High-Low range representing lackluster movement. JPYINR is trading below 20 and 50 day SMA's which are important short term moving averages, indicating negative bias in the short to medium term The chart pattern suggests that if JPYINR crosses and sustains above 57.95 level it would witness buying which would lead JPYINR towards 58.10-58.30 levels. However if JPYINR breaks below 56.55 level it would witness selling which would take JPYINR towards 56.35-56.10. The daily strength indicator RSI is moving upwards and above its reference line indicating positive bias. However momentum oscillator Stochastic has turned negative from the overbought zone indicating a possible consolidation or a down move in the near term

GBPINR

GBPINR opened with a downward gap however buying momentum throughout the session led it to close on strong note.. GBPINR closed at 88.1 with a loss of 1.75 %. On the daily chart GBPINR has formed a sizable bullish candle however it has formed a lower High-Low compare to previous session indicating negative bias. GBPINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. GBPINR is trading below 20 and 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if GBPINR breaks and sustains below 86.80 level it would witness selling which would lead GBPINR towards 86.55-86.30 levels. Important Resistances for the day are placed at 88.40-88.60. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias

 

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