Friday, March 24, 2017

GBPINR Intraday Outlook : 24.3.2017

GBPINR Intraday Outlook : 24.3.2017
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE

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Cable rallied to a fresh four-month high at 1.2528 after a strong retail sales report. February sales smashed expectations, rising 1.7% m/m and by 3.7%, up on the respective median forecasts for 0.4% and 2.6% growth. A rebound had been expected following two consecutive months of sub-par sales, though the magnitude was even greater than foreseen. January data were revised lower, however, to -0.5% m/m from -0.3% m/m initially reported, and to 1.0% y/y growth from 1.5% y/y. The ONS stats office also advised caution, pointing out that the underlying three.
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