Sep 28 2018

Trade idea for the day

USDINR: On a 30 minutes chart, the pair USDINR is struggling between the 50 period EMA resistance and 200 period SMA support. RSI 14 period is neutral at 49 mark.

Our Preference: – Sell at 72.62-65

Target – 72.45

Stop loss – 72.72.

EURINR: After a steep fall the price action is showing some signs of recovery, as RSI 14 period turned back after an attempt towards oversold zone on a hourly chart. Immediate resistance of 50 period EMA is at 84.89.

Our Preference: – Buy at 84.52

Target – 84.85

Stop loss – 84.35