Mtechtips MCX-SX GBPINR INTRADAY trading analysis 18-01-2016
Monday, January 18, 2016 0:43
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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 18-01-2016
Mtechtips Recommendation Buy above 97.52 Target 98.00-98.40 .Stop loss below 97.00 (LTP : 97.16) Important factor/data from U.K. MPC Official Bank Rate Votes GBPINR tested weekly low 96.6275, as per the sell strategy given below 97.40 Target was 97.00-96.70, pair saw a sharp bounce back towards 97.51 again on short-covering after Crude drop below $30 levels. Technically, weekly price action resulted in formation of hammer candle stick which is indicating for bullish trend reversal. On the downside, crucial support is seen at 96.40 and a break below will expect to extend loss towards 96.00-94.80 level.
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