Report For Date 1/12/2015
Rupee Vs Usd (Spot) Inr: Exit Long On The Rise
Exit long till 66.98 is not crossed on closing.
Resistance will be at 66.81-66.98.
Expect lower range of 66.73-66.47 to be tested.
Near term correction is likely to be seen as engulfing bear candle has been formed.
Indicator like RSI exit the overbought zone which suggest that near term swing top appears to be in place.
A lower high and lower low in relation to yesterday high low will confirm the swing top.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
66.90
|
66.05
|
UP
|
65.4
|
29.10
|
66.47
|
66.73
|
66.81
|
66.98
|
67.24
|
*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
|
59.37
|
-17.47
|
72.63
|
-16.80
|
0.27
|
-2.57
|
57.07
|
-14.93
|
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.