IGI Logo

USDINR

opened with an upward gap and remained in positive terrain throughout the day. USDINR closed at 82.75 with a gain of 0.12 %. On the daily chart USDINR has formed a big bullish candle with upper shadow indicating selling pressure as well as resistance at higher levels Since past five weeks USDINR is consolidating within 83.00-82.40 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 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 both are in positive territory which supports upside strength Technical View Currency Index CMP % change S2 S1 P R1 R2USD/INR (Future) 82.75 0.12% 82.59 82.67 82.75 82.83 82.92EURINR opened with a downward gap and traded with extreme volatility on either side to end on a flat note. EURINR closed at 88.4025 with a loss of 0.12 %. On the daily chart EURINR has formed a small Bearish candle forming higher Highlow compared to previous session indicating positive bias EURINR is moving in a Lower Top and Lower Bottom formation on the hourly chart indicating short term downtrend. EURINR is trading below 20-day SMA's which are important short-term moving average, indicating negative bias in the short term. The chart pattern suggests that if EURINR breaks and sustains below 88.00 level it would witness selling which would lead EURINR towards 87.80-88.70 levels. However, if EURINR crosses above 89.00 level it would witness buying which would take EURINR towards 89.10-89.20. 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 Index CMP

EURINR 

opened with a downward gap and traded with extreme volatility on either side to end on a flat note. EURINR closed at 88.4025 with a loss of 0.12 %. On the daily chart EURINR has formed a small Bearish candle forming higher Highlow compared to previous session indicating positive bias EURINR is moving in a Lower Top and Lower Bottom formation on the hourly chart indicating short term downtrend. EURINR is trading below 20-day SMA's which are important short-term moving average, indicating negative bias in the short term. The chart pattern suggests that if EURINR breaks and sustains below 88.00 level it would witness selling which would lead EURINR towards 87.80-88.70 levels. However, if EURINR crosses above 89.00 level it would witness buying which would take EURINR towards 89.10-89.20. 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 with a downward gap and witnessed buying in initial hour however selling pressure around 63.00 level dragged it lower to end on negative note. JPYINR closed at 63.25 with a gain of 0.04 %. On the daily chart JPYINR has formed a Bearish candle forming lower High-low compared to previous session and has closed below previous session's low indicating negative bias JPYINR continues to move in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. JPYINR is trading below 20-day SMA which indicates negative bias. The chart pattern suggests that if JPYINR crosses and sustains above 63.00 level it would witness buying which would lead JPYINR towards 63.20-63.40 levels. However, if JPYINR breaks below 62.50 level it would witness selling which would take JPYINR towards 62.20-62.00. 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 with a downward gap and remained negative throughout the day. GBPINR closed at 99.73 with a loss of 0.36 %. On the daily chart GBPINR has formed a small bearish candle forming lower High-low compared to previous session indicating negative bias GBPINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. 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 99.30 level it would witness selling which would lead GBPINR towards 99.10-99.00 levels. Important Resistances for the day are placed at 100.30. 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