Monday, November 18, 2019

Mid-Session: Indices continue to trade higher; Bharti Airtel top gainer : 19.11.2019

Mid-Session: Indices continue to trade higher; Bharti Airtel top gainer : 19.11.2019

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Indian benchmarks continued to trade higher during the noon trading session led by buying across PSU Bank, energy, infra and pharma stocks. Shares of telecom operator Vodafone Idea rallied 24 percent and Bharti Airtel gained 6 percent on November 19 after both decided to increase tariffs.

Overseas, European stocks are likely to open mixed on Tuesday as uncertainty about U.S.-China trade deal, the ongoing unrest in Hong Kong and worries about global growth are expected to render the mood cautious.

Among key shares, shares of SpiceJet jumped 5 percent on November 19 after a Directorate General of Civil Aviation data showed the company's market share increased in October. Whereas, the Indian rupee recovered from the day's low and trading flat at 71.85 per dollar.

At 12:23 hours, the 30-share benchmark index was trading at 40453.51 up by 169.32 points or by 0.42 per cent, while the NSE Nifty was at 11926.45 up by 41.95 points or by 0.35 per cent.


Today's Performing Sector : 19.11.2019

Today's Performing Sector : 19.11.2019

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Today Commodity Pivot Table : 19.11.2019

Today Commodity Pivot Table : 19.11.2019




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Diamond : Technical View : 19.11.2019

Diamond : Technical View : 19.11.2019

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*On the daily chart, the price closed in a positive note during the last session.

*However, It has sustained above the 21*50 days SMA’s and Parabolic Sar, which signifies bearish strength for the short term.

Furthermore, the price has sustained above the Falling Trendline, which adds support in the counter.

Momentum indicators MACD has crossed above the zero level, which indicates Fall

As per the above technical structure; we expect bearish move in the counter. can expect 3589 levels


Rubber : Technical View : 19.11.2019

Rubber : Technical View : 19.11.2019

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On the daily chart, the price has closed with in positive note during the previous session.

However, the price is trading above the median of the Bollinger Band.

Moreover, It has also sustained above the 21*50 days SMA’s and Parabolic Sar, which supports for short term.

Momentum indicators RSI(14) has sustained above the 50 level, which could maintain strength in the counter.

As per the above technical structure; we expect bullish move in the counter.


Naturalgas : Technical View : 19.11.2019

Naturalgas : Technical View : 19.11.2019

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On the daily chart, the price slipped 2.80% in the last session.

Moreover, the price has shown a breakdown from the 38.20% Retracement level, which indicates negative strength in the counter.

Also, the price has shifted below the Parabolic Sar, which signifies bearish strength.

Momentum indicator RSI (14) has shown a negative crossover, which adds more bearishness.

As per the above technical structure; we expect bearish move on the counter.




Crudeoil : Technical View : 19.11.2019

Crudeoil : Technical View : 19.11.2019

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On the daily chart, the price closed with negative note and drifted 1.09% in the last session.

Moreover, the price pushed back from the upper Bollinger Band, which adds pressure in the counter.

Furthermore, the price has also faced the resistance of the Falling Trendline, which confirms power to the bears.

In addition, momentum indicator RSI (14) has shown negative crossover.

As per the above technical structure; we expect bearish move in the counter.


Nickel : Technical View : 19.11.2019

Nickel : Technical View : 19.11.2019

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On the daily chart, the price drifted by 1.15% in the last session.

Moreover, the price has been trading below the lower line of the Falling Channel, which adds pressure in the counter.

Additionally, the price is trading below the 21*50 SMA’s, which confirms the downtrend.

Also, Momentum indicator RSI(14) has shown a negative crossover, which indicates bearishness.

As per the above technical structure; we expect bearish move in the First Half and After 5.00Pm stock may try to reverse


Copper : Technical View : 19.11.2019

Copper : Technical View : 19.11.2019

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On the daily chart, the price closed flat in the last session.

Moreover, the price has fallen after taking resistance of the Bollinger Band Median line.

Furthermore, the price has shifted below the 50*200 day's SMA’s and also it has shifted below the Parabolic Sar, which confirms weakness in the counter.

Momentum indicator RSI(14) has shown negative crossover, which confirms power to the bears.

As per the above technical structure; we expect bearish move in the first half and second Half expected to test 438 levels.


Silver : Technical View : 19.11.2019

Silver : Technical View : 19.11.2019

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On the daily chart, the price erased it’s entire fall and closed with positive note with the gain of 0.36%.

Moreover, the price has pulled back from the lower Bollinger Band, which adds support in the counter.

Furthermore, the price has taken the support of the Rising Trendline, which signifies bullish strength in the counter.

Momentum indicators MACD has been moving with positive crossover.

As per the above technical structure; we expect bullish move in the counter

Gold : Technical View : 19.11.2019

Gold : Technical View : 19.11.2019

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On the daily chart, the price glittered 0.55% in the previous trading session.

Moreover, the price has shifted above the 21*50 day’s, which adds bullish strength in the
counter.

Furthermore, the price has taken the support of the Rising Trendline.

Additionally, momentum indicator RSI(14) has shown positive crossover, which indicates
bullishness.

As per the above technical structure; we can expect bullish move in the counter.


EURINR : Technical View : 19.11.2019

EURINR : Technical View : 19.11.2019

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* EURINR closed with positive note and gained 0.30% in the last trading session.

* On the daily chart, the pair is trading above it’s upward sloping trendline and has also sustained above it’s Ichimoku cloud which is bullish for the counter.

* Also, the pair has taken support of it’s 200 EMA and moved upwards which indicates strength.

* Moreover, a momentum indicator RSI (14) has sustained above it’s 50 level which indicates bullishness in the pair.

* So based on the above technical structure, we expect a bullish move in EURINR towards 79.76 level.

GBPINR : Technical View : 19.11.2019

GBPINR : Technical View : 19.11.2019

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* GBPINR closed with a positive note and gained 0.70% during it’s Monday session.

* On the daily timeframe GBPINR has formed a series of higher highs and higher lows.

* The pair is currently trading above it’s previous swing highs, which can act as a great support in the near term.

* The pair is also trading above it’s Parabolic SAR, which is a positive sign for the pair, Also momentum indicator RSI (14) has been moving up decisively which is a bullish sign.

* So based on the above technical structure, we expect bullish move in GBPINR future towards 93.37 level. 

JPYINR : Technical View : 19.11.2019

JPYINR : Technical View : 19.11.2019

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* During it’s Monday session JPYINR slipped by 0.30%.

* On the daily chart, the pair has closed below the Ichimoku cloud which indicates bearishness in the counter.

* Moreover, On the daily chart the Heikin Ashi candle of the pair has turned red which confirms weakness.

* Additionally, a momentum indicator Stochastic (6) has shown a negative crossover, which confirms power to the bears.

* So based on the above technical structure, we expect bearish move in JPYINR towards 65.77 level.

USDINR : Technical View : 19.11.2019

USDINR : Technical View : 19.11.2019

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* The USDINR pair during it’s Monday session closed flat – 0.03%.

* But, the pair has been trading above it’s Parabolic SAR, which confirms bullishness.

* Also, the pair has been trading above it’s Ichimoku Cloud which indicates strength in the counter.

* Additionally, a momentum indicator RSI (14) has sustained above it’s 50 level which confirms power to the bulls.

* Hence, we expect bullish move in USDINR future towards 72.09 level. 

Today's Stock News - 19.11.2019: 09.00 Am

Today's Stock News - 19.11.2019: 09.00 Am
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* CG POWER AND INDUSTRIAL SOLUTIONS: India Ratings and Research has downgraded the
company's long-term issuer rating to "D" from "B". The outlook was negative.

* BHARTI AIRTEL: It will raise its mobile price offerings from December.

* DB REALTY: PRESTIGE ESTATES PROJECTS's wholly-owned subsidiary Prestige Falcon Realty Ventures has acquired 132,854 shares, representing 28.99% stake, in the company's joint venture DB (BKC) Realtors from Trinity Capital (Ten).

* DR REDDY'S LABORATORIES: Said report that the company buying WOCKHARDT's operations was "purely speculative".

* HINDALCO INDUSTRIES: Has cut prices of its aluminium ingots, billets and wire rods by nearly 2% with effect from Thursday.

* ICICI BANK: Plans to raise at least 200 bln capital boost through qualified institutional placement.

* INDIAN OVERSEAS BANK: The committee of directors will meet on Nov 28 to issue and allot equity shares to the government on a preferential basis in lieu of the capital infusion of 38.57 bln rupees received in September.

* JET AIRWAYS (INDIA): The National Company Law Tribunal on Monday asked the resolution
professional of the company to work towards bringing Synergy Group, the potential bidder for the airline, to appear before the bench.

* JUBILANT LIFE SCIENCES: Promoter Jubilant Stock Holding sold 0.72% stake or 1.16 mln shares in the company at 493 rupees apiece through a bulk deal on the BSE.

* MARUTI SUZUKI INDIA: Has increased prices of WagonR 1.0 ltr (petrol), all its variants that are fully Bharat Stage-VI compliant, effective Monday.
- A sudden surge in demand for its diesel models compelled the maker of the Vitara Brezza and Dzire
to ramp up production of some variants that it plans to phase out before the new emission standards come into effect in April.

* OIL AND NATURAL GAS CORP: May produce as much as 20% less natural gas than its original estimate from its largest block in the Krishna Godavari basin because of higher reservoir complexity and execution challenges.

* ORIENTAL BANK OF COMMERCE: Sold 200,000 shares, 0.56% stake, in SUPREME HOLDINGS & HOSPITALITY (INDIA) at 6.79 rupees per share through a bulk deal on the BSE.

* PIDILITE INDUSTRIES: The board has appointed Pradip Menon as chief financial officer of the company with immediate effect.

* SBI LIFE INSURANCE: Private equity firm Carlyle Group today will sell 3% stake in the company at 930- 940 rupees a share via block deal route.

* SHREE CEMENT: Is at an advanced stage of raising more than 20 bln rupees through a qualified
institutional placement offering.

* SPICEJET: Is in talks with Boeing Co to buy more 737 Max aircraft to feed its expansion plans, a deal that could mark a Dubai Airshow coup for the grounded narrow-body.

* TATA CONSULTANCY SERVICES: Has launched a new Microsoft Business Unit. The unit will use its trademark Business 4.0 technology to support businesses.
- The weakness in closing deals in the retail segment in October as compared with the September
quarter, especially for product-led deals, could be an incremental headwind for the company in the December quarter.

* TATA STEEL: Plans to cut up to 3,000 jobs across Europe operations.

* VEDANTA: Has cut the prices of its aluminium ingots by more than 1% with effect from Saturday.

* VODAFONE IDEA: Will increase tariff prices from Dec 1. However, the telecom operator did not give any detail of the increase in the mobile service rates.

* WIPRO: The demand from the banking, financial services and insurance vertical is "soft" because of weak spending by European banking and capital market clients.

* YES BANK: The bank has acquired 949,930 shares, or 20.61% stake, in Tulip Star Hotels, post invocation of pledge of shares.

* ZEE LEARN: EuroKids, a leading playschool chain controlled by US private equity firm KKR, is in preliminary talks to acquire preschool chain Kidzee from the company for 10–12 bln rupees.

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Today's Sector News - 19.11.2019: 09.00 Am

Today's Sector News - 19.11.2019: 09.00 Am
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* BANKING: The Bombay High Court has appointed Vijaykumar V. Iyer as the liquidator of Aditya Birla Idea Payments Bank after a voluntary plea from the company.

* ECONOMY: The finance ministry on Monday said India is on track to reach the $5-trln target by 2025, and although the economy has slowed down, it is still projected to grow at the fastest pace among Group of 20 nations this year.

* FINANCE: Altico Capital India has defaulted on payment of 8.58 mln rupees, which was due on Friday.

* PHARMACEUTICAL: Private equity group Advent International is buying a controlling stake in Mumbaibased biopharma company Bharat Serums and Vaccines, valuing the company for $500 mln.

* STEEL: ArcelorMittal expects to complete its acquisition of Essar Steel India before the end of the year, following the Supreme Court’s approval of its resolution plan for the company.

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Nifty-Sensex-Pre Market View - 19.11.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 19.11.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open in red on Tuesday
19/11/2019 08:37
Indian benchmarks are expected to start the day on a negative note today. In the absence of any key domestic triggers, investors may look at global cues to play markets. Indices are expected to remain range-bound today as they continue to consolidate.

Meanwhile, the steps that are being considered for the upcoming Budget on February 1, long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises. 

On Monday, the 30-share benchmark index ended at 40284 down by 73 points or by 0.18 % and then NSE Nifty was at 11884.5 down by - 10.95 points.


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Today Commodity News : 18.11.2019

Today Commodity News : 18.11.2019

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Gold to drift lower this week as Fed policy minutes will be in focus

In a shortened last week, MCX Gold appreciated 0.9 percent and Comex Gold rose 0.5 percent week-on-week. Last week, the major rise in gold came from weakness in the rupee.

India reported weak set of economic data. India's industrial production de-grew at 4.3 percent in September against a de-growth of 1.4 percent a month ago. CPI too rose above RBI's comfort zone (4.62 percent in October versus 3.99 percent in September). In October, US Federal budget deficit widened to $134 billion from $83 billion surplus in October. Weekly jobless claims increased from 2,11,000 a week ago to 2,25,000 last week.

The political unrest in Hong Kong has also supported gold, which is considered an alternative investment during times of geopolitical and financial uncertainty. Nonetheless, the upside was limited. The US is getting close to a trade agreement with China, White House Economic Adviser Larry Kudlow said, citing what he called very constructive discussions with Beijing.

Fed Chairman Jerome Powell sounded mostly upbeat during his Congressional testimony. He said the US economy is a 'star' performer and officials expect 'continued moderate growth'. There are few warning signs that the expansion or financial markets will get derailed, he added, while repeating general concerns about trade uncertainty and rising debt.

Fed Vice Chairman Richard Clarida called the economy "at or close to maximum employment and price stability." Holding at the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund has reduced from 901 tonne as on November 8 to 896.77 tonne on November 15.

Gold may weaken this week since sentiment has turned positive for the riskier asset classes with US and China progressing slowly but in a constructive manner. US economic growth could slow further in the fourth quarter. October figures showed weakness in a majority of retail categories and factory production declined, even excluding a strike-related plunge in vehicle output. Overall retail sales advanced 0.3 percent from the prior month after a 0.3 percent drop in September. Manufacturing output fell 0.6 percent, and total industrial production slumped 0.8 percent.

On November 19, US will publish building permits and housing starts. On November 21, Philly Fed manufacturing index and existing home sales for October will be released. Markit will release provisional manufacturing PMI for Germany, Euro-zone & US on November 22. Hence, the dollar will be volatile as well as the yellow metal.

The breadth of Fed dissent over the October rate cut will be the highlight of  minutes to be released on November 20, though officials have stuck by the "done for now" mantra since then. The minutes of Mario Draghi's last ECB meeting are unlikely to rock any boats or indeed float them on November 21 as the statement and his press conference contained no surprises. They may give details of the discussion about the composition of asset purchases.

Holdings at SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell marginally to 897 tonne on November 15 from 901.19 tonne a week prior. The downside could be limited since political unrest in the Hong Kong may revive safe haven buying in the coming week. Secretary of State Mike Pompeo called on Beijing to honour local autonomy, and police detained two Germans who were reporting on unrest.

Today Commodity News : 18.11.2019

Today Commodity News : 18.11.2019

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Govt notifies Steel Scrap Recycling Policy

The government has notified a Steel Scrap Recycling Policy (SSRP) to provide for a framework to facilitate and promote establishment of metal scrapping centers in India for scientific processing and recycling.

Union Steel and Petroleum Minister Dharmendra Pradhan said in Lok Sabha that the policy framework provides standard guidelines for collection, dismantling and shredding activities in an organised, safe and environmentally sound manner.

"The Steel Scrap Recycling Policy has been notified in the Gazette of India vide No. 354 dated November 7, 2019. The policy provides a framework to facilitate and promote establishment of metal scrapping centers in India for scientific processing and recycling of ferrous scrap generated from various sources and a variety of products," he said during Question Hour.

Pradhan said the policy prescribes guidelines for setting up and responsibilities of dismantling centre and scrap processing centre, roles of aggregators and responsibilities of the government, manufacturer and owner.

"The Steel Scrap Recycling Policy does not envisage setting up of scrap centres in the country by the government. The role of government is to provide a framework to facilitate and promote establishment of metal scrapping centres in the country," he said.

The minister said the government has not fixed any incentive on sale of scrap. This will be governed by guidelines and market conditions prevailing at the time of sale of scrap.

The other ministries involved in sanctioning of scrap centres are Ministry of Road Transport and Highways and Ministry of Environment, Forest and Climate Change, he said.

Replying to a separate question, Union Tourism Minister Prahlad Singh Patel said the Ministry of Tourism is developing thematic circuits in the country under its scheme of 'Swadesh Darshan' in a planned and prioritised manner.

The projects for development under the scheme are identified in consultation with state governments or Union Territory Administrations or central agencies and are sanctioned subject to availability of funds, submission of suitable detailed project reports, their adherence to relevant scheme guidelines and utilisation of funds released earlier, he said.

This Week Cadilahc LTD(Cash) - Outlook : 18.11.2019

This Week Cadilahc LTD(Cash) - Outlook : 18.11.2019

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* Looking at the daily chart, stock has been in a protracted down trend since July, 2017 and in that pessimism stock hit a fresh 52-week low of 206.50 during August 22, 2019.

* Subsequently, Stock rebound sharply however bullish momentum exhausted near 262 and once again stock resumed its down trend.

* However, during the last fall, stock managed to hold its low of 206.50 and formed higher low on daily chart.

* The daily RSI (14) signaled oversold compared to its previous fall.

* On Thursday, stock saw strong buying interest which led to a formation of ‘Bullish Engulfing’ pattern.

* On a weekly chart, last week candle resembles a formation of bullish hammer.

* Considering the above evidences, we advocate trader to buy this stock in a range of 231 to 226. Stop loss should be placed at 212 on closing basis.

This Week Bharatforg LTD(Cash) - Outlook : 18.11.2019

This Week Bharatforg LTD(Cash) - Outlook : 18.11.2019

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* After posting a fresh 52-week low of around 376; stock has seen sharp rally till 486.80. However, the last swing move was failed to confirm by RSI (14) momentum indicator which signaled bearish divergence on daily chart.

* The impact of such development seen of late as stock nosedived sharply.

* Subsequently, the fall got arrested near 420 as said level precisely coincided with its previous
resistance zone which reversed its role post breakout along with the lower band of rising
channel pattern.

* The daily RSI (14) found support near 40 and heading northward.

* Despite the sharp fall, daily 9-45 EMA on price is positive.

* Combining the above technical evidences, we advocate traders to buy this stock in a range of
440 to 425 with a price target of 490 and 530.

This Week BankNifty- Outlook : 18.11.2019

This Week BankNifty- Outlook : 18.11.2019

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The Nifty Bank maintained its northward journey and posted six consecutive weeks of gains. During the week, Nifty Bank extended its ongoing up move and hit an intraweek high of 31205.20.  Subsequently, sharp profit booking during the mid-part of the week pulled index lower. However, support base buying interest during the second half of the week reclaimed most of its intra-week gains. In the process, nifty bank ended the week with a gain of 0.84%.

* Looking at the weekly chart, RSI (14) convincingly broke the down ward sloping trend line and entered above 60. Such development indicates acceleration of bullish momentum in the near term.

* During the week, daily RSI (14) signaled positive reversal and target of such pattern comes near 31440. The said pattern will be negated if index closes below 30200.

* The daily higher top higher bottom formation remains intact.

* Going forward, 31450 – 31500 zone likely to act as an immediate resistance as said levels coincide with the weekly as well as monthly pivot resistance hence any move above 31500 will allow index to retest its alltime high of 31783.60 and even the possibility of hitting fresh all-time high can’t be ruled out. Lower side, 30575 – 30000 are near term support on index. 

This Week Nifty - Outlook : 18.11.2019

This Week Nifty - Outlook : 18.11.2019

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The truncated week started on subdued note and nifty retest its previous week low of 11850.25 on Monday. Subsequently, some of the weak hands might have existed market as a result nifty went tad below the support zone of 11835 – 11815. However, the follow-up selling was clearly missing and we saw sharp rebound in nifty. On Friday, bulls made a valiant attempt to surpass 12000 mark however profit booking during the fag end of the session resulted into a close tad below 11900 mark. In the process, nifty ended the week with a nominal loss of 0.11%.

* Looking at the weekly chart, last two weeks price action resulted into a formation of ‘Narrow Range’ candles which indicates indecision.

* During the week, daily RSI (14) took support near 60 level and rebound which was a bullish indication.

* Broadly speaking, nifty likely to oscillate in a range of 12035 on the higher side and lower side support seen near 11800.

* At this juncture, we continued to maintain our bullish view and expect nifty to retest its all-time
high of 12103.05 sooner or later whereas immediate resistance seen near 11980. On the flip side, 11800 will be an immediate support below which strong support placed near 11700.

This Week JPYINR - Outlook : 18.11.2019

This Week JPYINR - Outlook : 18.11.2019

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* After a long consolidation for last few weeks, JPYINR pair finally witnessed good amount of bounce during previous week after opening at 65.47 and surged till the high of 66.52 and finally settled at 66.17.

* The pair has precisely rebounded from the key down ward slanting trend line support and gave positive break out by penetrating the falling wedge pattern. Hence, going forward a fresh rally is likely to extend the pair till 68.00 and higher.

* The momentum indicator RSI has moved up till 55 mark and stochastic indicator is still on the bearish note and heading toward the oversold zone.

* Thus for the week, we expect JPYINR pair will continue its fresh positive rally till 67.30 then 68.00 and hence we recommend buying around 66.00 levels with stop loss placed at 65.00 mark.

This Week GBPINR - Outlook : 18.11.2019

This Week GBPINR - Outlook : 18.11.2019

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* After three weeks of consolidating, last week GBPINR pair experienced as sharp up move after opening at 91.40 and extended till 92.86 and finally settled at 92.53 mark gaining 1.29%.

* GBPINR pair which is on the strong positive note has surpassed the immediate resistance of 92.06 in the last week. Going forward, the next resistance as per the 61.8% retracement mark is placed at 93.15 and surpass above that will extend the pair till 95.40 then 96.50 as per long term trend line.

* The momentum indicator RSI has struck around the 65 mark for last few weeks and stochastic indicator continued to remain positive.

* Thus going forward, if GBPINR pair manages to surpass the above mentioned resistance of 93.15 then further up move can be seen till 95.40 and higher. Hence, we advice buying in GBPINR pair around 92.00 levels for the week.