December 3, 2016

Mtechtips MCX-SX USDINR INTRADAY trading analysis 12-09-2016

MTECHTIPS Buy around 66.75-66.85 Target 67.10-67.35. Stop loss below 66.55ORFresh sell expect below 66.50. Target 66.10/65.80. Stop loss above 66.75. ollar/Rupee reacted positive after the European Central Bank offered no clear indications about further stimulus plans while reports that North Korea had conducted a nuclear test also added somewhat strength in dollar. Meanwhile strong demand by nationalized banks on behalf of oil importers too supported the currency pair.India’s industrial production data Monday and retail inflation on Tuesday Technical, on the weekly chart USDINR was unable to sustain below 66.55 levels and pullback towards 66.90 levels as longer-term buyers stepped in to take advantage of lower levels. Weekly price action resulted in formation of hammer candle stick which is indicating for momentum gain may take place in the USDINR. On the downside, crucial support is seen at 66.50 and sustain trade below only will expect to test 66.10 and below. Failure of the break could result recovery rally towards 67.35-67.65

WWW.MTECHTIPS.COM

07489294118-119

 

mtech_tips1

Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.