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Axis Securities

Published on 28/05/2020 2:13:55 PM

GBPINR

* GBPINR opened with an upward gap and remained lackluster within narrow trading range throughout the day. GBPINR closed at 93.48 with a gain of 0.13 %.

* On the daily chart GBPINR has formed a sizable bullish candle forming higher High-low compare to previous session indicating positive bias GBPINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating sustained up trend. GBPINR is trading below 20 day SMA's which is important short term moving average, indicating negative bias in the short to medium term.

* The chart pattern suggests that if GBPINR crosses and sustains above 93.60 level it would witness buying which would lead GBPINR towards 93.80- 94.20 levels. However if GBPINR breaks below 93.30 level it would witness selling which would take GBPINR towards 93.10-92.80.

* The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength.

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SEBI Registration number is INZ000161633

Axis Securities

Published on 28/05/2020 2:13:45 PM

JPYINR

* JPYINR opened on a flat note and remained lackluster throughout the session to close on flat note. JPYINR closed at 70.41 with a loss of 0.15 %.

* 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 Since past 8- 10 sessions, JPYINR continue to consolidate within 70.80 - 70.20 levels indicating short term sideways trend. JPYINR is trading below 20 day SMA which indicates negative bias.

* The chart pattern suggests that if JPYINR breaks and sustains below 70.30 level it would witness selling which would lead JPYINR towards 70.10 -69.80 levels. However if JPYINR crosses above 70.50 level it would witness buying which would take JPYINR towards 70.80-71.

* The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. However momentum oscillator Stochastic has turned positive from the oversold zone indicating a possible consolidation or an up-move in the near term.

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SEBI Registration number is INZ000161633

Axis Securities

Published on 28/05/2020 2:12:35 PM

EURINR

* EURINR opened on a flat note but buying led it upwards to end near the high of the day. EURINR closed at 83.6 with a gain of 0.6 %.

* On the daily chart EURINR has formed a small bullish candle forming higher High-Low formation compare to previous session indicating positive bias. EURINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating short term up trend. Currently EURINR is sustaining above its 20 day SMA which support bullish sentiments in near term.

* The chart pattern suggests that if EURINR breaks and sustains below 83.50 level it would witness selling which would lead EURINR towards 83.30- 83.20 levels. However if EURINR crosses above 83.70 level it would witness buying which would take EURINR towards 84-84.50.

* 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.

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SEBI Registration number is INZ000161633

Axis Securities

Published on 28/05/2020 2:12:20 PM

USDINR

* USDINR opened with downward gap and remained extreme volatile throughout the session. USDINR closed at 75.89 with a gain of 0.02 %.

* On the daily chart USDINR has formed a small Bullish candle forming lower High-Low compare to previous session indicating negative bias Since past 12-15 consecutive sessions USDINR continue to consolidate within 76.50 - 75.50 levels indicating short term sideways trend. USDINR is trading below its important moving average of 20 day SMA indicating negative bias in the short to medium term.

* The chart pattern suggests that if USDINR breaks and sustains below 75.70 level it would witness selling which would lead USDINR towards 75.50-75.30 levels. However if USDINR crosses above 76 level it would witness buying which would take USDINR towards 76.20-76.40.

* The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. However momentum oscillator Stochastic has turned positive from the oversold zone indicating a possible consolidation or a up-move in the near term.

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For More Axis Securities Disclaimer  https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633