The USDINR opened the session on
a weak note at 70.10 levels, well below lower end of Bollinger band, against
previous close of 70.28 levels. Typically, when price trades outside the
Bollinger band, prices tend to back come inside the band region. This price-action
gives a short term trading opportunity to buy USD/INR at CMP 69.96 levels with
stop below 69.80 levels, previous lows on daily chart, with target of 70.22
levels.
This technical call only for intra-day.
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