GBP INR future outlook for 9 to 13 may 2016

GBP INR future outlook for 9 to 13 may 2016 NSE gbp inr future this week closed with loss. This was first weekly loss for pound after last 3 weeks recovery gains.   This week gbp inr future tried to test my first tgt of 99 rupee with high of 98.3. For next week, 96.6 is major support and if pound take support at that level and move upward then it will be buying opportunity for tgts 99 and 100.   Weekly breakdown below 96.6 means fresh selling opportunity for tgts 94.8 and 92.   From long term view, pound rupee future below 98 remain sell and tgts are 91 and 83. This week we saw reversal from 98 level which is sell signal on weekly chart for tgt 91.

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Pramod Baviskar

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