GBPINR Important Resistances for the day are placed at 100.50-100.80 -Axis Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
USDINR
opened on a negative note however it has witnessed some pullback at lower levels which recovered some earlier losses. USDINR closed at 82.61 with a loss of 0.02 %. On the daily chart USDINR has formed a bullish candle however it remained restricted within previous two session's High-Low range indicating absence of strength on either side USDINR continue to move in past couple of trading session's High-Low range representing lackluster movement. 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 83 level it would witness buying which would lead USDINR towards 83-83.20 levels. However, if USDINR breaks below 82 level it would witness selling which would take USDINR towards 82-81.80. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias
EURINR
opened on a flat note and traded with positive bias in narrow range throughout the day. EURINR closed at 88.99 with a gain of 0.2 %. On the daily chart EURINR has formed a bullish candle however it remained restricted within previous session's HighLow range indicating absence of strength on either side EURINR continue to move in past couple of trading session's High-Low range representing lackluster movement. Currently EURINR is sustaining above its 20 day SMA which support bullish sentiments in near term. The chart pattern suggests that if EURINR crosses and sustains above 89.35 level it would witness buying which would lead EURINR towards 89.60-89.85 levels. However, if EURINR breaks below 88.80 level it would witness selling which would take EURINR towards 88.60-88.50. 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 upmove in the near term
JPYINR
opened on a negative note however it has witnessed some pullback at lower levels which recovered some earlier losses. JPYINR closed at 63.22 with a loss of 0.23 %. On the daily chart JPYINR has formed a small bullish candle with shadows on either side representing extreme volatility as well as indecisiveness amongst participants regarding the direction JPYINR continue to move in past couple of trading session's High-Low range representing lackluster movement. JPYINR is sustaining above its 20 and 50 day SMA which signals bullish sentiments in near term The chart pattern suggests that if JPYINR crosses and sustains above 63.50 level it would witness buying which would lead JPYINR towards 63.70-64.00 levels. However if JPYINR breaks below 63.00 level it would witness selling which would take JPYINR towards 62.80-62.70. 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 upmove in the near term
GBPINR
opened on a flat note but buying led GBPINR upwards to end in the green. GBPINR closed at 100.22 with a gain of 0.29 %. On the daily chart GBPINR has formed a bullish candle however it remained restricted within previous session's HighLow range indicating absence of strength on either side GBPINR is moving in a Higher Top and Higher Bottom formation on the hourly chart indicating short term up trend. GBPINR is trading below 20 day SMA's which is important shortterm moving average, indicating negative bias in the short to medium term. The chart pattern suggests that if GBPINR breaks and sustains below 100.00 level it would witness selling which would lead GBPINR towards 99.80-99.50 levels. Important Resistances for the day are placed at 100.50-100.80. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias
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
