Mtechtips MCX-SX GBPINR INTRADAY trading analysis 22-11-2016
MTECHTIPS The Pound is weakening against Indian Rupee .Currently Pound is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The GBPINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for GBPINR is 83.56-83.14-82.48-.Resistance for the GBPINR is 84.98-86.19-87.17-92.19-
In medium term Pound is relatively strengthening against Dollar- In long term Pound is relatively strengthening against Euro- Dollar- Yen-
Short term and Intraday Level of Pound with Rupee
Currently GBPINR is in HOLD SHORT position GBPINR is moving sideways so short term investor better to buy if close above 84.835 closing below 83.9 Sell will happen. The oscillator is showing SELL signal
Intraday Trend- Buy is advised only above 84.739 with a stop at 83.732 Below 83.513 go for sell and put stop at 84.519.