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USDINR

Technical Observations:

* USDINR Dec. future retraced to 10 DEMA and clawback Friday’slosses.

* The pair formed a doji candlestick pattern indicating indecisiveness among traders.

* Momentum Oscillator, RSI of 14 days turned down and weakened below 50 on the daily chart.

* MACD has been placed below the zero line and is weakening.

* DMI is heading north and the gap between –DI and +DI is widening, exhibiting a bearish trend.

* Short Term Trend: Bearish Expected

* Trading Range: 83.00 to 83.30 Short Term Recommendation: Sell USDINR Dec. Fut. at 83.25/83.30 SL 83.36 Target 83.05

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