IGI Logo

USDINR

USDINR opened with an upward gap and remained in positive terrain throughout the day. USDINR closed at 79.5 with a gain of 0.51 %. On the daily chart USDINR has formed a sizable bullish candle forming higher Highlow compare to previous session indicating positive bias USDINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating short term up trend. Currently USDINR is sustaining above its 20 and 50 day SMA which support bullish sentiments in near term. The chart pattern suggests that if USDINR crosses and sustains above 79.55 level it would witness buying which would lead USDINR towards 79.70-79.90 levels. However if USDINR breaks below 79.05 level it would witness selling which would take USDINR towards 78.90-78.70. The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength

USDINR – DAILY CHART

EURINR

EURINR opened with a downward gap and remained negative throughout the day. EURINR closed at 81.95 with a loss of 1.07 %. On the daily chart EURINR has formed a sizable bearish candle and closed below previous session's low indicating weakness EURINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. EURINR is trading below 20 day SMA which is important short term moving average, indicating negative bias in the short to medium term The chart pattern suggests that if EURINR breaks and sustains below 81.75 level it would witness selling which would lead EURINR towards 81.55-81.35 levels. Important Resistances for the day are placed at 83.10-83.30. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias

EURINR – DAILY CHART

JPYINR

JPYINR opened with a downward gap however buying momentum throughout the session led it to close on positive note.. JPYINR closed at 58.54 with a loss of 0.03 %. On the daily chart JPYINR has formed a sizable bullish candle however it has formed a lower High-Low compare to previous session indicating negative bias. JPYINR continue to move in past couple of trading session's High-Low range representing lackluster movement. JPYINR is trading below 20 and 50 day SMA's which are important short term moving averages, indicating negative bias in the short to medium termThe chart pattern suggests that if JPYINR crosses and sustains above 58.65 level it would witness buying which would lead JPYINR towards 58.85-59 levels. However if JPYINR breaks below 58.10 level it would witness selling which would take JPYINR towards 57.90-57.70. 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

GBPINR

GBPINR opened with a downward gap and remained negative throughout the day. GBPINR closed at 95.44 with a loss of 0.72 %. On the daily chart GBPINR has formed a long Bearish candle forming lower HighLow compare to previous session indicating negative bias. GBPINR is moving in a Lower Top and Lower Bottom formation on the hourly chart indicating short term downtrend. 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 breaks and sustains below 95.35 level it would witness selling which would lead GBPINR towards 95.15-95 levels. Important Resistances for the day are placed at 96.30- 96.50. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias.

GBPINR – DAILY CHART

To Read Complete Report & Disclaimer Click Here

For More Axis Securities Disclaimer  https://simplehai.axisdirect.in/disclaimer-home

SEBI Registration number is INZ000161633

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer