Report For Date 25/05/2015
Rupee Vs Usd (Spot) Inr: 63.20 Critical For Current Up Trend
The peak was at 64.30.
The likely lower top is at 63.89.
Support is at 63.37.
Head and Shoulder pattern is visible and violation of support 63.20 can lead to confirmation of the pattern.
Subsequently, near term correction could be seen.
The DRV is at 63.23 and the same is likely to be tested.
Objective for near term remains to exit long till 63.89 is not crossed.
Trade long only above 63.89 alternatively look to exit long.
TREND INFORMATION WITH INTRA-DAY LEVELS
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STRATEGY
|
CLOSE
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DRV
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TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
63.48
|
63.23
|
UP
|
62.54
|
17.04
|
63.13
|
63.38
|
63.52
|
63.63
|
63.88
|
*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
TECHINCAL INDICATORS TABLE
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RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.51
|
-3.15
|
31.46
|
-22.96
|
0.18
|
-12.69
|
29.83
|
-7.82
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Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.
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