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USDINR

USDINR has opened with a downward gap and traded with negative bias in initial half however buying momentum at lower levels recovered all the earlier losses to close on flat note. USDINR closed at 82.615 with a loss of 0.12 %. On the daily chart USDINR has formed a sizable Bearish candle forming lower High-low compared to previous session and has closed below previous session's low indicating negative bias Since past couple of sessions USDINR is consolidating within 83.00-82.50 levels indicating short term consolidation. 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 82.80 level it would witness buying which would lead USDINR towards 82.91 - 83.01 levels. However, if USDINR breaks below 82.30 level it would witness selling which would take USDINR towards 82.19 - 82.09. 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 traded positive in initial half. However, profit booking in second half erased most of the earlier gains which led EURINR to close on near the day's low. EURINR closed at 88.1975 with a gain of 0.3 %. On the daily chart EURINR has formed a long Bearish candle indicating sustained selling pressure EURINR has bounced off an important support of 87.60 indicating a possibility of trend reversal at current levels. EURINR is trading below 20- and 50-day SMA's which indicating negative bias in the short term For the day if EURINR trade and sustains above 88.68 levels then it may move further upward towards 88.89 - 88.99 levels. On the downside an immediate intraday support is around 88.00 levels.. 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

JPYINR opened with an upward gap and remained in positive terrain throughout the day. JPYINR closed at 61.2575 with a gain of 0.74 %. On the daily chart JPYINR has formed a Bullish candle which has totally Engulfed its previous day's move forming a "Bullish Engulfing" candlestick formation which is a bullish reversal formation. For such formation confirmation is necessary, so if JPYINR breaks above previous day's high it would witness a change of trend to the upside. 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 breaks and sustains below 61.00 level it would witness selling which would lead JPYINR towards 60.79 - 60.69 levels. However, if JPYINR crosses above 61.50 level it would witness buying which would take JPYINR towards 61.71 - 61.81. The daily strength indicator RSI and momentum oscillator Stochastic have both turned positive from the oversold zone and are above their respective reference lines indicating positive bias

GBPINR

GBPINR opened on a flat note but selling led GBPINR downwards to end in red. GBPINR closed at 99.46 with a loss of 0.63%. On the daily chart GBPINR has formed a small bearish candle forming lower High-low compared to previous session indicating negative bias Since past 4-5 sessions GBPINR continue to consolidate within 100.50-98.80 levels indicating short term sideways trend. GBPINR is trading below 20- and 50-day SMA's which indicating negative bias in the short termThe chart pattern suggests that if GBPINR breaks and sustains below 99.30 level it would witness selling which would lead GBPINR towards 99.09 - 98.99 levels. Important Resistances for the day are placed at 100.21 - 100.31. The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias

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