GBPINR opened with an upward gap and remained in positive terrain throughout the day - Axis Securities
USDINR
USDINR opened with a downward gap and remained negative throughout the day. USDINR closed at 82.44 with a loss of 0.41 %.
On the daily chart USDINR has formed a bearish candle forming lower High-low compare to previous session indicating negative bias USDINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. USDINR is trading below 20 and 50 day SMA's which are important short term moving averages, indicating negative bias in the short to medium term
The chart pattern suggests that if USDINR breaks and sustains below 82.35 level it would witness selling which would lead USDINR towards 82.15-82 levels. Important Resistances for the day are placed at 82.55.
The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias
EURINR
EURINR opened with an upward gap and remained in positive terrain throughout the day. EURINR closed at 88.13 with a gain of 1.2 %.
On the daily chart EURINR has formed a small bullish candle forming higher HighLow formation compare to previous session indicating positive bias. EURINR continue to move in past couple of trading session's High-Low range representing lackluster movement. 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 87.35 level it would witness selling which would lead EURINR towards 87.10-86.80 levels. Important Resistances for the day are placed at 88.50-89.75.
The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength
JPYINR
JPYINR opened with an upward gap but witnessed selling from the opening tick to end negative. JPYINR closed at 62.45 with a gain of 0.99 %.
On the daily chart JPYINR has formed a long bearish candle carrying long upper shadow indicating resistance at higher levels. JPYINR continues to move in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. 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 term
The chart pattern suggests that if JPYINR breaks and sustains below 62.35 level it would witness selling which would lead JPYINR towards 62.15-62 levels. Important Resistances for the day are placed at 63.15- 63.35.
The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias
GBPINR
GBPINR opened with an upward gap and remained in positive terrain throughout the day. GBPINR closed at 100.08 with a gain of 1.91 %.
On the daily chart GBPINR has formed a small bullish candle forming higher HighLow formation compare to previous session indicating positive bias. GBPINR continue to move in past couple of trading session's High-Low range representing lackluster movement. GBPINR is trading below 20 day SMA's which is important short term moving average, indicating negative bias in the short to medium term
For the day if GBPINR trade and sustains above 100.40 levels then it may move further upward towards 100.65-100.90 levels. On the downside an immediate intraday support is around 99.70 levels..
The daily strength indicator RSI and momentum oscillator Stochastic both are in positive territory which supports upside strength
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