Buy GBPINR above 96.25 Target 97 SL 95.8625 - GEPL Capital
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Chart for the day
GBPINR (Daily) - 96.16
Observation
* Prices of GBPINR were moving in a clear downtrend while respecting the down trending trend line since February 2022.
* Prices in the latest trading session have given a breakout from trend line with high volumes, which indicates reversal from the current downtrend.
* We witnessed a positive crossover of 12EMA & 26EMA on hourly chart.
* On hourly chart, we can also spot that MACD has also shown positive crossover above zero line indicating the tendency to trend.
Inference
Buy above 96.25 Target 97 SL 95.8625, Strictly on the closing basis.
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