1. Nifty chart setups:
Nifty is stalling around resistance at 8800 spot levels for now. The indice can gap up higher today and continue dropping for the remaining session, forming a bearish reversal candlestick pattern. Nifty remains a candidate to sell into rallies through 8800/8900 spot levels respectively. The fibonacci 0.618 resistance is around 8800 levels and a turn around at those levels remains high probability. It is recommended to sell a bearish reversal at the above mentioned levels for now.
Remain flat for now. Looking to sell around 8800 region.
2. USDINR chart setups:
The USDINR pair has bounced back towards 62.39 spot levels after having made lows at 62.10 levels on Friday. The pair is expected to open higher today and continue rallying further up. The upside potential remains up to 63.80 and 64.20 spot levels in the weeks to come by. It is recommended to buy USDINR on dips from here on, with immediate support seen around 62.00 spot, followed by 61.30 levels. The pair could face resistance around 63.80 levels in the sessions to come. Bulls seem to be poised to remain in control till prices stay above 62.00 spot levels.
Remain long, stop at 61.50, target is open.