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Mtechtips MCX-SX EURINR INTRADAY trading analysis 21-09-2015

Mtechtips MCX-SX EURINR INTRADAY trading analysis 21-09-2015

Mtechtips EURINR September Future – Near term trend volatile
Recommendation Sell on rise around 75.50-75.60 Target 74.80-74.30. Stop loss above 76.00. (LTP : 75.22) Or Risky traders may buy above 76.00 Target 77.50 Stop loss 75.60. Important factor/data from India/U.S: ECB President Draghi Speaks 23 Sep. EURINR was able to trade above 73.80 for fourth consecutive week and settled at 75.37 levels up by 1.20%. This week Greece election result, ECB President Draghi Speaks may give volatile move in EURINR amid Federal Reserve remained on the sidelines. From technical part, this week 76.00 will act as a strong resistance and further bullish move could expect only above this level else any rise towards 75.50-75.60 could attract huge selling for the initial target 74.00 and below.
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