Mtechtips MCX-SX USDINR INTRADAY trading analysis 17-11-2016
MTECHTIPS The Dollar is Strongly strengthening against Indian Rupee .Currently Dollar is in downtrend but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The USDINR is now trading in oversold level. The USDINR is now trading in oversold level. The oscillator is showing BUY signal For short term Dollar is in HOLD LONG position.Positionally Support for USDINR is 67-66.85-66.84-66.81-66.73-66.71-66.66-. Immediate resistance for USDINR is 68.69
Short term and Intraday Level of Dollar with Rupee
Currently USDINR is in HOLD LONG position USDINR has crossed the high but the trend was not strong and up trend cannot sustain at high so for short term better buy above 68.4125 with stop at 66.3 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 68.557 with a stop at 67.664 Below 67.465 go for sell.