The pair is closed above 10 DEMA after touching 21 DEMA - HDFC Securities
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Technical Observations:
* USDINR March futures took support at a lower line of the downward-slopping channel.
* The pair is closed above 10 DEMA after touching 21 DEMA.
Though, it has recovered in the past three days, the medium-term trend remained bearish.
Momentum Oscillator, RSI of 14 days indicated a short-term bounce as it has been heading higher.
Minor long buildup has been seen as the price and open interest gained.
Short Term Trend: Short Covering
Expected Trading Range: 83.05 to 82.70
Intraday Recommendation: Buy USDINR Mar. Fut. at 82.80 SL 82.70 Target 82.94
USDINR March Futures Daily Chart
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SEBI Registration number is INZ000171337
Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795
SEBI Registration number is INZ000171337
