IGI Logo

Technical Observations:

USDINR March futures formed a gravestone doji candlestick pattern indicating indecisiveness.

The pair has been trading well below short-term moving averages.

Momentum Oscillator, RSI of 14 days period is almost flat and is placed below 50.

ADX line has been heading north with –DI placed above +DI exhibiting a continuationof a bearish trend.

Minor long buildup has been seen as the price and open interest gained.

Short Term Trend: Bearish Expected

Trading Range: 83.15 to 82.90

Intraday Recommendation:

Sell USDINR Mar. Fut. at 83.03 SL 83.13 Target 82.88 

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337