Mtechtips MCX-SX GBPINR INTRADAY trading analysis 05-05-2017

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 05-05-2017
MTECHTIPS:- Pound is weakening against Indian Rupee .Currently Pound is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The GBPINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for GBPINR is 82.62-82.39-82.17-81.67-81.58-.Resistance for the GBPINR is 83.51-85.06-
In long term Pound is relatively strengthening against Euro- Yen-
Short term and Intraday Level of Pound with Rupee
Currently GBPINR is in HOLD SHORT position GBPINR is in sideways so for short term better buy above 83.507 with stop at 82.71 The GBPINR is now trading is approaching overbought level. The GBPINR is now trading is approaching overbought level. The oscillator is on SELL signal and GBPINR is coming down from overbought level
Intraday Trend- Buy is advised only above 83.507 with a stop at 82.744 Below 82.604 go for sell and put stop at 83.366
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