USDINR TECHNICAL OUTLOOK : 28.11.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 68.74 and made a high of 68.86 and saw trend reversal after a continuation, the pair has seen sharp selling near to the previous high of 68.85 with the possibility that the central bank would have sold dollars to ease volatility. Expect the 68.85 will be a short term resistance and strong support comes at 68.30.
Fundamental Overview
US dollar index is trading at 100.88, depreciating more than 0.5% in early trade in Asia. Markets started locking in profits before the heavy data week and the OPEC meeting on the 30th. US markets remained closed for the last two sessions but the dollar started losing steam in the previous week itself. Important data is lined up all through the week and is likely to keep investors on the sidelines.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
US dollar index is trading at 100.88, depreciating more than 0.5% in early trade in Asia. Markets started locking in profits before the heavy data week and the OPEC meeting on the 30th. US markets remained closed for the last two sessions but the dollar started losing steam in the previous week itself. Important data is lined up all through the week and is likely to keep investors on the sidelines.
