NSE currency outlook for 30 November 2016

Eur inr remain buy next target 73.8

Eur inr remain buy next target 73.8

Euro rupee future last closed at 73.04. Eur inr future hit my target of 73.2 and now above it expect next major swing target at 73.8. On downside 72.8 and 72.45 are major support zones as well as fresh buying levels. For long term investors, 72 is best buy zone with price target 78 rupee. Gbp inr hit high near 86 given targets 87 and 89

Gbp inr hit high near 86 given targets 87 and 89

Pound rupee future today closed at 85.81 with gain. Gbp inr after achieving my given target of 85.45 given bullish breakout for targets 87 and 89. Today hit high near 86 and heading towards my positional targets. On downside 85.45 is major support and fresh buying zone on correction. Jpy inr is recovering towards 62-63 levels

Jpy inr is recovering towards 62-63 levels

Yen rupee future closed at 61.2. Yen is in absolute downtrend and hit low near 60 rupee level. But now technically oversold and building bas around 60-61 rupee zone. Remain buy and accumulate for short term technical short covering up to 62 and then 63 rupee. On downside 60.2 is major support, breakdown below it means super bearish target of 59.5. Usd inr facing supply on higher sides

Usd inr facing supply on higher sides

Dollar rupee future today closed at 68.83. Usd inr future hit high near 69.05 and from then showing strong downside corrective moves on RBI interventions. This major currency future will remain sell on rise on fundamental as well as technical basis. On downside my first target if at 68.2.

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Pramod Baviskar

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