Mtechtips MCX-SX USDINR INTRADAY trading analysis 18-07-2016
MTECHTIPS Buy above 67.45 Target 67.75-67.90. Stop loss below 67.25
Sell around 67.30 Stop loss above 67.45 Target 67.00-66.80.USD-INR continued to weaken for third consecutive week and tested its lowest level 66.9425 since June 2016 on selling by foreign banks amid inflows into local debt and equities. However, dollar demand from importers and overseas fund outflows triggered by quarterly results from IT giants Infosys and Tata Consultancy Services Limited resulted in small recovery towards 67.2250 on Friday. Technically, Sell strategy given around 67.75 was not initiated, as after pair remained below 67.50 levels. Weekly price action resulted in formation of high wave candle stick which indicating for indecisive or trend reversal in USDINR, however sustain trade below 23.8% Fibonacci retracement level of 21 Feb 2016 – 17 April 2016 is yet indicating for continuation of recent bearish trend. Hence, any rises towards 67.60-67.70 expect to attract near term selling activities. Further, massive resistance likely to seen at 67.95 and a break above only will expect to test 68.25-68.50
“A business is successful to the extent that it provides a product or service that contributes to happiness in all of its forms.” "To provide best value for money to clients through personalized service, innovative products, best trading and investment strategies and state-of-the-art technologies. We at Mtech tips believe that 'Our services combined with our clients trust will lead to a prosperous Mtech tips family'".
We are entirely client centric, with a clear focus on providing long term value addition to clients, while maintaining the highest standards of excellence, ethics and professionalism. We are committed for:
• Integrity and transparency in all Services.
• Providing investment solutions based on quality and unbiased research.
• Providing personalized services to all Subscriber and business associates.
• Achieving success through client’s growth.
Latest posts by MTECHTIPS (see all)
- MTECHTIPS;-Silver to trade in 41190-42350 range: Achievers Equities - February 1, 2017
- MTECHTIPS-Apply For 2 Days Free Equity & Commoditytrial tips - February 1, 2017
- MTECHTIPS:- Bank Nifty FEB Future: - February 1, 2017