DIWALI WEEK (Currency)
GBPINR …
Stronger than expected industrial and manufacturing data in U.K adds weight to the view the Bank of England can safely raise interest rates in November. Moreover, Sterling is also getting support after a number of cabinet ministers pledged their support to the Prime Minister after a plot to oust her became public.
Now what to expect??
Support seen at 85.50—85.20 and Hurdle is at 86.50.
Looks positive on chart .Traders can buy above 86.50 and can accumulate more in panic for the upside target of 87.50—88.30 and then 89.50++mark in days to come.
Support and stop loss below 85.50 on closing basis.
Trading Recommendation (12th October 2017)
Buy GBPINR above 86.50 and accumulate more in panic around 86.10. Stop loss below 85.50 (on closing basis). Target 87.50—88.30 and then 89.50+++ mark.
More will update soon!!!
