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HDFC Securities

Published on 12/04/2021 10:46:00 AM

JPYINR

JPYINR April futures marked “V” shaped recovery in last week. However, the trend remains bearish as it has been trading below Ichimoku cloud.

The pair is having falling trend line and Ichimoku Leading span 2 resistance around 69 odd levels.

The pair has 55 EMA resistance at 68.80.

The pair is having support at 67.60, the 23.6% Fibonacci retracement adjoining high of 71.96 and 66.25.

Momentum oscillator, RSI on daily chart headed higher and placed well above 50 level but for the trend reversal it requires to trade above 69 odd level.

Looking at the overall chart pattern and technical evidences, we remain bearish in JPYINR April futures

 

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HDFC Securities

Published on 12/04/2021 10:45:26 AM

GBPINR

GBPINR April futures traded higher after taking support at Leading Span B at 99.42. The formation of higher highs and lows on weekly chart suggesting continuation of bullish trend.

The pair is having support at 101.42 and resistance at 103.43.

Momentum oscillator, Relative Strength Index (RSI) on daily chart has been holding well above 50 level indicating continuation of positive momentum.

We expect consolidation in GBPINR April futures coming week.

The trend reversal can be seen only below 99.26 while on higher side crossing of 103.43 level confirms new territory for the pair.

 

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HDFC Securities

Published on 12/04/2021 10:44:54 AM

EURINR

EURINR April futures closed at Leading span B level and formed doji candlestick pattern suggesting indecisiveness.

The pair has downward slopping trend line resistance around 89.50 (as shown in chart)

Momentum oscillator, Relative Strength Index on daily chart headed higher with positive cross over indicating strength in the pair.

Looking at the overall chart pattern of EURINR and EURUSD, it has been in the down trend.

The trend reversal level for EURINR April futures is above 89.50 while on downside we see support at 88.42 and 87.42.

 

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HDFC Securities

Published on 12/04/2021 10:44:40 AM

USDINR

USDINR April futures formed Doji candlestick on daily chart suggesting indecisiveness at current level after sharp rally in last couple of days.

The pair has support of Leading span A support at 73.96 and resistance at 75.15 and 76 odd level.

Momentum oscillator, Relative Strength Index(RSI) of 14 days period about to enter in overbought zone suggesting continuation of upward momentum.

USDINR April futures expected to trade with positive bias following higher high and higher low formation on daily chart.

The pair expected to retrace in coming days ahead of the heading higher. It is expected to trade in the range of 74.50 to 75.30 range next week.

 

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HDFC Securities

Published on 9/04/2021 10:59:39 AM

Technical Observations:

USDINR

USDINR April futures formed long legged doji candle, a smaller body with long wicks on both side suggesting indecisiveness among traders. The pattern also suggest calmness in the market after sharp rally.

It has closed above short term and long term moving averages.

Momentum oscillator heading northbound suggesting continuation of upward momentum.

The bias will remain bullish following higher high formation.

It has resistance at 75.15 and support at 74.50

 

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HDFC Securities

Published on 5/04/2021 11:39:55 AM

JPYINR

JPYINR futures trend remains bearish with any short covering bounce used to make fresh short sell.

The short term moving averages are placed below medium term moving averages suggesting down trend. Momentum oscillator, RSI on weekly chart entered in oversold zone which is suggesting consolidation before heading lower.

MACD and MACD average gap widening and placed below zero line suggesting continuation of down trend. We remain bearish in JPYINR April futures and expect pair to head towards 64 odd levels after some short covering bounce.

Monthly Range : 68.50 to 64

 

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HDFC Securities

Published on 5/04/2021 11:39:43 AM

GBPINR

* GBPINR near month futures has support of 20 Week Moving Average at 100.09.

 * The primary trend for pair remains bullish amid higher top higher bottom formation on daily and weekly time frame.

* The pair is expected to hold bullish momentum until it breaks below 97.30. Momentum Oscillators and Indicators on daily and weekly charts are positive.

* The above technical evidences suggest continuation of bullish trend with higher side resistance at 103.43 and support at 97.30.

* Monthly Range : 98.00 to 103

 

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HDFC Securities

Published on 5/04/2021 11:39:29 AM

EURINR

* EURINR near month futures broken the 50 Weeks Moving average support. The pair has support at 85.40, the 38.2% retracement adjoining level of 77.24 and 90.48.

* Momentum oscillator, Relative Strength Index of 14 heading towards oversold zone. MACD also placed below zero line with negative cross over and histogram indicating selling momentum.

* The pair has support at 83.06, the 100 week Moving average and resistance at 87.60 200 days moving average.

* Near term trend for EURINR April futures remains bearish and selling can escalate below 85.

* Monthly Range : 88.50 to 83.90

 

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HDFC Securities

Published on 5/04/2021 11:39:15 AM

Technical Observations:

USDINR

* USDINR near month futures has falling trend line resistance at 74 odd levels and support at 72.30.

* The pair closed well above short term moving average while having resistance at 50 DMA at 74.20.

* Momentum oscillator, Relative Strength Index of 14 week periods heading higher with positive cross over indicating upward momentum.

* MACD line flattened below zero line which is suggesting consolidation.

* The above technical evidences suggest bullishness for the USDINR April futures and expected head towards 74 odd levels.

* Monthly Range : 74.50 to 72.80.

 

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SEBI Registration number is INZ000171337
 

HDFC Securities

Published on 31/03/2021 9:40:19 AM

Technical Observations:

USDINR

USDINR April futures forming bullish Marubozu candles on daily chart, considered as trend reversing pattern.

It has closed took support of 100 Weeks Moving average and expected to face resistance of 50 Weeks Moving average placed at 74.20

Momentum oscillators, Relative Strength Index turned up and placed above 50.

USDINR April futures expected to trade with positive bias after yesterday’s reversal pattern.

The paise has near term support at 73.25 and resistance at 74.17.

 

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SEBI Registration number is INZ000171337

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