As discussed last week, index may take some breather after a big move. No big moves seen on index this week. Index view remain same. Lets check some stocks and Dollar chart today:
Reliance Industries:
Reliance making second attempt to unshackle the chains. This time if breakout holds then good momentum can be seen. Reliance has made a higher bottom which is also positive.
Reliance Industrial infra:
The charts look similar. Second Attempt again with higher bottom. Lets wait and watch.
USDINR:
Dual Resistance acting strong. Dollar witnessed biggest weekly loss in last 2 years. This week candle was doji with negative biased. If fall continues then bottom of trend will be visited soon. Breaking 65.60-80 zone dollar will go on consolidation mode with negative biased which will be good for banking stocks.
NOTE: Above charts are shared for learning purpose only. These are not related to any BUY/SELL tip.
Reliance Industries:
Reliance making second attempt to unshackle the chains. This time if breakout holds then good momentum can be seen. Reliance has made a higher bottom which is also positive.
Reliance Industrial infra:
The charts look similar. Second Attempt again with higher bottom. Lets wait and watch.
USDINR:
Dual Resistance acting strong. Dollar witnessed biggest weekly loss in last 2 years. This week candle was doji with negative biased. If fall continues then bottom of trend will be visited soon. Breaking 65.60-80 zone dollar will go on consolidation mode with negative biased which will be good for banking stocks.
NOTE: Above charts are shared for learning purpose only. These are not related to any BUY/SELL tip.
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