Mtechtips MCX-SX USDINR INTRADAY trading analysis 23-11-2016
MTECHTIPS The Dollar is Strongly strengthening against Indian Rupee .Currently Dollar is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend . Cautious point is buying at higer 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 The current position is BUY .Positionally Support for USDINR is 67.31-67.1-67-66.91-66.88-66.77-66.76-. Immediate resistance for USDINR is 68.69
Short term and Intraday Level of Dollar with Rupee
Currently USDINR is in HOLD LONG position USDINR is moving sideways so short term investor better to buy if close above 68.4125 closing below 67.665 Sell will happen. The USDINR is now trading is approaching overbought level. The USDINR is now trading is approaching overbought level. The oscillator is on SELL signal and USDINR is coming down from overbought level
Intraday Trend- Buy is advised only above 68.517 with a stop at 68.004 Below 67.924 go for sell and put stop at 68.437.