IMV FOREX UPDATE
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Indian Market View (Finaux Alpha 6 Investment Advisor Pvt. Ltd.). We are a SEBI registered Investment adviser.

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Currency Opening Bell

USDINR.... Open on Flat note Cmp 70.89

Support is 70.70 Resistance is 71.20

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency …Open --- CMP

EURUSD – 1.1103--1.1100

GBPUSD - 1.2886---1.2885

USDJPY – 108.5700--108.7000
🔔 Currency Opening Bell🔔

USDINR.... Open on Positive note Cmp 71.16

Support is 70.80 Resistance is 71.30

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency …Open --- CMP

EURUSD – 1.1075--1.1075

GBPUSD - 1.2845---1.2840

USDJPY – 108.9600--108.7900
➡ International Update:

Comex Gold

Gold has taken its major support at $1480 level.

One may buy it on dips until it breaches the low of $1480.

Upside target intact at $1502----$1510.

More and more upside rally can be seen if it manages to give a close above $1510 levels.

Trade with levels only.
🔔 Currency Opening Bell🔔

USDINR.... Open on Positive note Cmp 71.32

Support is 70.90 Resistance is 71.50

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency …Open --- CMP

EURUSD – 1.1073--1.1073

GBPUSD - 1.2817---1.2817

USDJPY – 108.6000--109.0500
➡ Moody's lowers India's outlook to 'negative' from 'stable'

The outlook partly reflects government and policy ineffectiveness in addressing economic weakness, which led to an increase in debt burden from already high levels, the rating agency said.

Impact- Negative ⬇⬇

Source- Moneycontrol
Equity Update

We had seen a sharp downside panic in Nifty future during the last hour of Friday's trading session which is not a good sign.

Appreciable Ayodhya Verdict and news that Government to Invest ₹10000 cr in a ₹25000 cr realty fund may support Index but considering the fact that rating agency changed India's outlook from Stable to Negative will dominate market sentiments.

Technical Analysis

Nifty future has support at 11930 and resistance at 12070---12120.

Break and close below 11930 will take it to 11790---11760 and then to 11650 levels in days to come else it could test it's resistance level of 12120 again.

Major upside rally we will see on a weekly close above 12150 levels only

Note: You all know that we are highly bullish in Nifty future for the upside target of 13000+++ levels by the end of Feb 2020 (As we have mentioned in the month of July 2019). So 11650---11400 will be a good buying opportunity levels in Nifty future

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On the other hand, Bank Nifty looks positive on chart till 32000 levels. Bank Nifty has support at 30400---30000 and resistance at 30850.

Break and close above 30850 will take it to 31400---31550 and then to 32000 levels in days to come else it could test it's support level of 30400---30000 again. Be cautious in Bank Nifty at lower levels.

Concentrate on Midcap stocks as chances are likely to perform in the upcoming week rather than large cap stocks. Sector analysis will provide soon

Key Stocks

Reliance Industries Future

Support at 1435 and resistance at 1470

Break and close above 1470 will take it to 1510---1525+++ levels in days to come else it could test it's support level of 1435 again.

Break and close above 1435 will take it to 1390---1360 levels in days to come.

Trade safely with levels only

SBI Future

Support at 315 and resistance at 322

Break and close below 315 will take it to 308---305 and then to 298 levels in days to come else it could test it's resistance level of 322 again.

More and more upside rally will see on a close above 322 levels only.

More levels and updates will provide to our subscribers during market hours. For any query related to market; feel free to ask directly with your RM during market hours

Thanks and Regards,
Team Indian Market View
Currency Opening Bell

USDINR.... Open on Positive note Cmp 71.41

Support is 70.20 Resistance is 71.60

Either side break or close with volume will decide further action in it.

Trade with levels only

Cross Currency …Open --- CMP

EURUSD – 1.1073--1.1047

GBPUSD - 1.2817---1.2811

USDJPY – 109.0700--109.1600
USDINR... Clearly told you to buy with a stop loss of 70.50.

Just made a high of 71.50. (Update on 24th Oct 2019)

Traders remain cautious in the range of 71.50---71.60.

Three consecutive close + weekly close above 71.60 will take it to 72.50---73.20+++ levels in days to come else it could test its support level of 71.25---70.90 again.

Major support intact at 70.50.

Traders holding long as per our level can book profit and wait for fresh entry.

Look at the screenshot⬆⬆
Team IMV wishes all our followers and subscribers a very happy Gurupurab 📿

Wahe guru ji ka khalsa wahe guru ji ki fateh 🙏
Alert: US President Mr. Donald Trump Speech at 10:30 PM (IST)

Be cautious and trade safely. Expect range bound trading for next 3 hours

More levels and updates provide soon

www.indianmarketview.com
✅India’s Falling industrial numbers are taking a toll on Rupee, want to see which direction will USDINR go now???

Click on the link below and read our currency level for the day. (14 Nov 2019 )

http://www.indianmarketview.com/2019/11/new-blog-post_27

Password protected Top pick and premium levels on USDINR, GBPINR and EURUSD only for our subscribers.
✅ Look at our performance in Currency segment. Gain of more than 10000/- in just 10 lots. Margin required maximum 50000---75000.💰💰

Have a look at the screenshot.⬆⬆

To know more; contact your RM.📞
✅ WPI inflation at 0.16%

Wholesale prices in India rose by 0.16 percent year-on-year in October of 2019, slowing from a 0.33 percent gain in the previous month and compared with market expectations of a flat reading. It was the lowest wholesale inflation rate since a decline in June 2016. On a monthly basis, wholesale prices rose by 0.7 percent in October, after a 0.1 percent fall in September.

Impact- Neutral to Negative