Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
USDINR Spot had range bound session yesterday and prices closed on the negative note near 69.62 levels. This has formed small Doji candlestick pattern.
However the Gap area witnessed in the session of 22nd April 2019 is still unfilled which is positive sign.
Moreover prices are also trading above the upward moving channel support so as long as this remains intact along with 69.50 levels, trend will remain on upside.
On 60 mins chart, 50 periods of EMA has given crossover above 100 periods of EMA which is bullish sign over short term.
In short, as long as 69.50 is protected on downside, trend will remain on upside. On upside closing above 70.00 is going to be important for further rise.
Strategy: NSE USDINR April Buy in the range of 69.80-69.70 with SL 69.50 and target of 70.10 levels.
To Read Complete Report & Disclaimer Click Here
For More Reliance Securities Ltd disclaimer at http://www.rsec.co.in/disclaimer SEBI registration No. INH000002384
Above views are of the author and not of the website kindly read disclaimer