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Published on 18/07/2019 12:21:22 PM | Source: Reliance Securities Ltd

RSI also exhibits positive divergence which suggests that momentum on downside is reducing - Reliance Securities

Posted in Currency Report| #Currency Tips #Reliance Securities Ltd

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GBPINR

* NSE GBPINR Spot has arrived at the crucial support zone after the recent downfall. In last session positive attempt was witnessed which is indicating that upside reversal is possible from hereon.

* RSI also exhibits positive divergence which suggests that momentum on downside is reducing. Thus only fresh move below 85.00 will continue the down move and unless that happens expect reversal on upside.

* Close above 86.25 will suggests retracement towards 87.40-87.50 is possible.

STRATEGY:

* NSE GBPINR July buy in the range of 85.70-85.50 with 85.10 as stop loss and target of 86.30-86.40

 

 

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