Buy USDINR: Prices are expected to rise further towards 65.67 | Outlook on currencies | Investment Idea |

USDINR:  On  Wednesday, USDINR pair traded  on a very  volatile note. Initially it opened  with  a gap  up at  65.28 and surged  till 65.50.  In  the second  half it  witnessing minor profit booking and finally ended at 65.31. In the current scenario the immediate resistance is at 65.67. Thus, we expect pair to rise till these levels in coming sessions. Thus, we advise buying on dips around 65.15 for targets of 65.67 Action: Buy.


EURINR:  On Wednesday,  EURINR  pair  openedwith  a  gap  down at  79.95  and slipped slightly  lower  till  79.87  and thereafter  it traded  on sideways note  and  finally ended  at  79.94.  Pair  has  almost  made  triple  top around 80.60. Therefore, 80.60 holds as key resistance and  on  the  downside  supports  are  seen  at  79.55  then 78.90.For the  day,  EURINR  pair  is  likely  to  remain bearish and thus recommend selling around 80.20 with strict stop loss at 80.60. Action: Buy.

GBPINR:  On Wednesday,GBPINR  pair  declined slightly  lower and settled  near  the  trend line  support  of 90.76.  The trend is still looking positive on the daily chart and we expect pair  to  rebound  till  the previous high of  91.86 then 92.30. Therefore, we advise buying around 90.80 for upside targets of 91.50. Action: Buy.

JPYINR: After  previous sessions minor dip, JPY INR pair once again  re-bounced  higher  during yesterday’s session  and hit  a high of 61.16.  On  theimmediate  basis  the  key support is at 60.60 as long as pair holds above that the bullish rally remains intact. Thus, we advise buying on dips around 60.90 for targets of 61.60. Action: Buy.

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