USDINR- Can Rupee Capsule Power Nifty & Bank Nifty

FX_IDC:USDINR   U.S. Dollar / Indian Rupee
448 1
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+

Click the charts below & use load bar feature

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
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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