once again Dow price rejection at previously discussed several times as resistance and distribution area as shown in chart. Rejection is very clear with diamond pattern indicating bearish trend towards target of 32000 which is previous seen support.
One Day Chart Analysis with key Support and Resistance Support Zones First Support Zone - 32000 - 31920 Resistance Zones First Resistance Zone - 34360 - 34280
USDINR was in a downtrend with Lower highs and Lower Lows However, today it formed a hammer at the bottom in daily time frame, which could be a bullish reversal sign Also, in hourly time frame we can see, it is changing its DOW theory. If it breaks the bullish flag, more upside possible. 1st target 73.32 / 73.40 else I will wait for bearish bet below 73. till then...
Possible Trade: Buy BATA INDIA Above 1317 SL 1300 Target 1347 1365 1390+
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