The Relative Strength Index (RSI) of USDINR also provides us with another valuable insight. When the RSI is above 70 the chances of dollar prices reversing are high. We have witnessed this seven times in the last 10 years. Currently, the RSI of USDINR is in the overbought zone and trading above 70. This indicates the possibility of depreciation in USD and an appreciation in INR.
Tech View: Nifty forms doji candle; buy-on-dips suggested with 22,780 as key support. How to trade on Thursday
Tech view: Nifty has formed a double bottom pattern and a doji candle near key support levels. The 21-day simple moving average (DSMA) at 23,285