Rupee Vs Usd (Spot) Inr: 63.20 Critical For Current Up Trend 29 May 2015 7:54 am   0 Comments  |   Post Comment  |  Font Size A A A  Report For Date 29/05/2015 Rupee Vs Usd (Spot) Inr: 63.20 Critical For Current Up Trend The movement in USD INR spot appears to be well managed higher top and higher bottom formation by the market. Higher range attracts supply and profit booking immediate next day if any strong rise is seen. Lower range attracts support and buying to form higher bottom against its previous higher bottom. The band currently is 64.38 to 63.20. For short to medium term 63.20 become the critical higher base point. Violation of 63.20 can lead to a breakdown of USD INR pair leading to stronger INR. The trend is currently up as closing prices are above the DRV. The same is seen with green color candle in the chart. Hold long position if any in USD INR pair with a stop loss of 63.48. Higher range of 63.92-64.18 is to take profits. Further rally can be seen on breakout above 64.40. TREND INFORMATION WITH INTRA-DAY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Long 63.75 63.31 UP 62.54 17.04 63.41 63.66 63.83 63.92 64.17 *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 RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 55.14 -2.33 61.43 10.06 0.17 -3.82 49.42 4.38 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. View Full Image Read Disclaimer   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Top 5 News Guar Gum (May 24) Bullish Trend / Buy on Dips / Key Su... Cotton Candy (May 24) Bearish Trend / Sell on Rise / K... Mentha Oil (Apr 24) Bearish Trend / Sell on Rise / Key... Base Metals Zinc (Apr 24) Bullish Trend / Buy on Dips... Base Metals Lead (Apr 24) Bullish Trend / Buy at CMP ... Top 5 Special Reports Mumbai Masur Canada Crimson Container Weak Price Trend... Mustard Oil (Jaipur) Trending Lower / Next Support at ... Weekly: ICE cotton futures extend decline; no respite f... Weekly: ICE raw sugar futures post double digit price d... Canadian Lentil Prices Hit Record Highs, Outlook Remain...