Nifty and Dollar Updates

Nifty is slowly and slowly inching high but pace of upmove is more steeper then fall we witnessed which is a good sign of strength in upmove.

Lets again revisit the chart posted a month back (Nifty and Bank Nifty Updates)and check where are we :

We can clearly see how resistance are becoming supports.  This is good sign. There are high chances of touching upper line as well in near future. After every breakout Nifty consolidates a bit and again new move starts, As per above charts, Nifty is buy in every dip.


USDINR:

USDINR is testing its long term support which has been a 4 year long trend line:

   USDINR testing its trend-line again after a while. We can see how many times it has tested this trend-line. Its a common saying that each retest of support make it little weak. We will see in near future how this retest supports USDINR this time.

 Lets look at daily charts to have a more closer look :

   RSI Retest and HNS in making. Neckline coinciding with long term support as well. Important junction for Rupee fate ahead. Keep close eye :)

NOTE: Above charts are only shared for learning purpose and are not related to any BUY/SELL tip.