1. Nifty chart setups:
There is no change what so ever in Nifty trade direction at the moment. The indice should continue drifting lower in the coming trade sessions, intraday pullbacks are possible though. It is very much recommended to remain bearish, with risk above 8830 spot for now or bring it to break even. Immediate support is seen at 8400 spot levels, followed by 8260 and lower while resistance is seen at 8800, followed by 8900/35 and higher respectively. The potential Head and Shoulder extension is pointing towards 8000 and 7800 spot levels.
Remain short for now, sell into rallies, stop at 8830 target is 7800.
2. USDINR chart setups:
The USDINR pair has hit 63.10 spot levels overnight. Expect the pair to open gap up today and continue rallying further higher in the sessions to come. It is recommended to remain long for now and also look to buy intraday dips with risk at 62.00 for now. The upside potential remains until 64.30 spot levels as seen on the chart view. Immediate support still remains at 62.00 spot while immediate resistance remain at 64.30 and 65.00 respectively. Look to add fresh long positions on dips.
Remain long, stop at 62.00, target 64.30.