USDINR open on flat note and witnessed buying in initial hour however profit booking around 75.20 levels - Axis Securities Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
USDINR
USDINR open on flat note and witnessed buying in initial hour however profit booking around 75.20 levels led it to close near day's low. USDINR closed at 75.01 with a loss of 0.08 %. On the daily chart USDINR has formed a long Bearish candle forming lower HighLow compare to previous session indicating negative bias. USDINR continues to move in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. 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 74.90 level it would witness selling which would lead USDINR towards 74.80-74.70 levels. Important Resistances for the day are placed at 75.25. 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 on a flat note but selling led EURINR downwards to end in red. EURINR closed at 84.91 with a loss of 0.26 %. On the daily chart EURINR has formed a sizable Bearish candle forming lower Highlow compare to previous session and has closed below previous session's low indicating negative bias EURINR is moving in a Lower Top and Lower Bottom formation on the daily chart indicating sustained down trend. EURINR is trading below 20 and 50 day SMA's which indicating negative bias in the short term The chart pattern suggests that if EURINR breaks and sustains below 84.80 level it would witness selling which would lead EURINR towards 84.65-84.55 levels. Important Resistances for the day are placed at 85.25-85.35. 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
