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    Technical Report - USDINR: Retail Research

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    jaimaagan
    The document provides a technical analysis of the USDINR currency pair, which is currently trading at 67.06. It notes that USDINR has likely completed a corrective move lower and is preparing for a bounce higher. The pair has retraced 80% of its recent rise and found support at falling channel support, which could strengthen the bullish case. Traders are advised to maintain a positive bias with a target of 67.50-67.80 and stop loss of 66.21.

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    Technical Report - USDINR: Retail Research

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    jaimaagan
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    The document provides a technical analysis of the USDINR currency pair, which is currently trading at 67.06. It notes that USDINR has likely completed a corrective move lower and is preparing for a bounce higher. The pair has retraced 80% of its recent rise and found support at falling channel support, which could strengthen the bullish case. Traders are advised to maintain a positive bias with a target of 67.50-67.80 and stop loss of 66.21.

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    The document provides a technical analysis of the USDINR currency pair, which is currently trading at 67.06. It notes that USDINR has likely completed a corrective move lower and is preparing for a bounce higher. The pair has retraced 80% of its recent rise and found support at falling channel support, which could strengthen the bullish case. Traders are advised to maintain a positive bias with a target of 67.50-67.80 and stop loss of 66.21.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    49 views2 pages

    Technical Report - USDINR: Retail Research

    Uploaded by

    jaimaagan
    The document provides a technical analysis of the USDINR currency pair, which is currently trading at 67.06. It notes that USDINR has likely completed a corrective move lower and is preparing for a bounce higher. The pair has retraced 80% of its recent rise and found support at falling channel support, which could strengthen the bullish case. Traders are advised to maintain a positive bias with a target of 67.50-67.80 and stop loss of 66.21.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    20 Feb 2017

    RETAIL RESEARCH
    Technical Report USDINR

    USDINR CMP 67.06


    The daily chart of USDINR is showing
    that it has completed a corrective leg
    or is likely to complete soon.

    Price has reached a crucial juncture


    and preparing for a larger bounce.

    It has retraced 80% of the last major


    rising leg from 66.21 to 68.87 and
    has found support at the falling
    channel which could add strength to
    the bulls.

    In addition to this the gap witnessed


    on Nov 11, 2016 was covered
    completely and could provide
    support to the bulls.

    Now price has reached an important


    territory of reversal. From here we
    could see good bounce towards 67.50
    67.80 levels before moving below
    66.21.

    The level of 67.80 coincides with the


    upper trendline and 50% retracement
    level of last falling leg which has
    started from 68.87 to 66.70 levels.

    Traders could maintain positive bias


    in this pair for the target of 67.50
    67.80 with the stoploss of 66.21.

    RETAIL RESEARCH P age |1


    RETAIL RESEARCH

    Technical Research Analyst: Gajendra Prabu


    E-Mail: (gajendra.prabu@hdfcsec.com)
    HDFC securities Limited, I Think Techno Campus, Building - B, "Alpha", Office Floor 8, Near Kanjurmarg Station, Opp. Crompton Greaves, Kanjurmarg (East), Mumbai 400 042 Phone: (022) 3075 3400 Fax: (022) 2496 5066 Website:
    www.hdfcsec.com Email: hdfcsecretailresearch@hdfcsec.com
    "HDFC Securities Ltd. is a SEBI Registered Research Analyst having registration no. INH000002475."

    Disclosure:
    We /I, (Gajendra Prabu), (MBA), authors and the names subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also
    certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report.
    Research Analyst or his/her relative or HDFC Securities Ltd. does not have any financial interest in the subject company. Also Research Analyst or his relative or HDFC Securities Ltd. or its Associate may have beneficial ownership of
    1% or more in the subject company at the end of the month immediately preceding the date of publication of the Research Report. Further Research Analyst or his relative or HDFC Securities Ltd. or its associate does not have any
    material conflict of interest. Any holding in stock No
    Disclaimer:
    This report has been prepared by HDFC Securities Ltd and is meant for sole use by the recipient and not for circulation. The information and opinions contained herein have been compiled or arrived at, based upon information
    obtained in good faith from sources believed to be reliable. Such information has not been independently verified and no guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or
    correctness. All such information and opinions are subject to change without notice. This document is for information purposes only. Descriptions of any company or companies or their securities mentioned herein are not intended
    to be complete and this document is not, and should not be construed as an offer or solicitation of an offer, to buy or sell any securities or other financial instruments.
    This report is not directed to, or intended for display, downloading, printing, reproducing or for distribution to or use by, any person or entity who is a citizen or resident or located in any locality, state, country or other jurisdiction
    where such distribution, publication, reproduction, availability or use would be contrary to law or regulation or what would subject HDFC Securities Ltd or its affiliates to any registration or licensing requirement within such
    jurisdiction.
    If this report is inadvertently send or has reached any individual in such country, especially, USA, the same may be ignored and brought to the attention of the sender. This document may not be reproduced, distributed or published
    for any purposes without prior written approval of HDFC Securities Ltd.
    Foreign currencies denominated securities, wherever mentioned, are subject to exchange rate fluctuations, which could have an adverse effect on their value or price, or the income derived from them. In addition, investors in
    securities such as ADRs, the values of which are influenced by foreign currencies effectively assume currency risk.
    It should not be considered to be taken as an offer to sell or a solicitation to buy any security. HDFC Securities Ltd may from time to time solicit from, or perform broking, or other services for, any company mentioned in this mail
    and/or its attachments.
    HDFC Securities and its affiliated company(ies), their directors and employees may; (a) from time to time, have a long or short position in, and buy or sell the securities of the company(ies) mentioned herein or (b) be engaged in any
    other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company(ies) discussed herein or act as an advisor or lender/borrower to such
    company(ies) or may have any other potential conflict of interests with respect to any recommendation and other related information and opinions.
    HDFC Securities Ltd, its directors, analysts or employees do not take any responsibility, financial or otherwise, of the losses or the damages sustained due to the investments made or any action taken on basis of this report,
    including but not restricted to, fluctuation in the prices of shares and bonds, changes in the currency rates, diminution in the NAVs, reduction in the dividend or income, etc.

    HDFC Securities Ltd and other group companies, its directors, associates, employees may have various positions in any of the stocks, securities and financial instruments dealt in the report, or may make sell or purchase or other
    deals in these securities from time to time or may deal in other securities of the companies / organizations described in this report.
    HDFC Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have been mandated by the subject company for any other assignment in the past twelve months.
    HDFC Securities or its associates might have received any compensation from the companies mentioned in the report during the period preceding twelve months from the date of this report for services in respect of managing or co-
    managing public offerings, corporate finance, investment banking or merchant banking, brokerage services or other advisory service in a merger or specific transaction in the normal course of business.
    HDFC Securities or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither HDFC
    Securities nor Research Analysts have any material conflict of interest at the time of publication of this report. Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage
    service transactions. HDFC Securities may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report.
    Research entity has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject company. We have not received any
    compensation/benefits from the Subject Company or third party in connection with the Research Report.
    This report has been prepared by the Retail Research team of HDFC Securities Ltd. The views, opinions, estimates, ratings, target price, entry prices and/or other parameters mentioned in this document may or may not match
    or may be contrary with those of the other Research teams (Institutional, PCG) of HDFC Securities Ltd.

    RETAIL RESEARCH P age |2

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