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Buy EURINR above 80.50 Target 80.80 SL 80.30 - GEPL Capital
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Chart for the day
EURINR (Daily) - 80.48
Observation
* Prices of EURINR after a clear downtrend with lower low lower high formation on hourly charts formed a base in the form of rectangle pattern since 12th June 2022.
* In the latest trading session we witnessed a breakout of the rectangle pattern with strong volumes, which indicates towards bullish sentiment in the prices.
* The breakout was preceded with positive divergence, which is now confirmed with the breakout in the latest trading session
* RSI plotted on the hourly time frame is rising and is above 60 mark, which suggest that the prices have strong momentum.
Inference
Buy above 80.50 Target 80.80 SL 80.30
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Tag News
EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
