The 10 DEMA is about to cross 21 DEMA downward - HDFC Securities
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USDINR
Technical Observations:
USDINR Dec future closed below 21 days moving average almost after a month.
The 10 DEMA is about to cross 21 DEMA downward. Momentum Oscillator, RSI of 14 days period turned down and weakened below 50 on the daily chart.
MACD has been placed above a zero line but on a flat line. Long unwinding has been seen as price and open interest declined.
Short Term Trend: Neutral/sideways
Expected Trading Range: 83.30 to 83.50
Intraday Recommendation: (Hold) Sell USDINR Dec. Fut. at 83.45/83.48 SL 83.53 Target 83.32
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