USDINR- Can Rupee Capsule Power Nifty & Bank Nifty

Channel break downside in dollar rupee could be the capsule, which can push weak Nifty & Bank Nifty to its much awaited targets.

67.05-67.30 is the zone, which dollar rupee could attempt & extending below 67 can take the support of trendline as mentioned in the 2016 diary update below.


Nifty going beyond 8230 can attempt for 8380-8400 target zone as expected & Bank Nifty could attempt for 18400+ & next resistance in BN shall be 18740

Bank Nifty - Need a poke above 18100 to resume uptrend- going below 17800 -downside

Nifty- Above 8230 for 8380-8400+

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USDINR 2016 Diary

Trade active:

20:01 Hrs 9th Jan2017

Closing Price@68.10

It re-entered into the channel -once it starts falling again below the channel, then both Nifty & Bank Nifty shall resume its upward journey.

Trade active:

11:06 Hrs 10th Jan2017

Last Price@68.02

Started showing sign from yesterday's close 15-20 paise rupee became strong

Trade active:

1st Feb2017

Almost close to the zone 67.00 - 67.05

Trade closed: target reached:

Target Achieved @67.15 on 3rd Feb2017