Jun 04 2018

Trade Idea for the day

USDINR :- Rupee gained initially in the opening session to touch 66.85 levels and made a low of 67.10. Momentum indicators like RSI at 40 indicating to buy with MACD crossover below zero line giving buy signals.

Our Preference:-  Buy at 66.95-67.00

Target – 67.15-67.20

Stop loss – 66.87

EURINR: – Fell after touching a high of 78.44 seen again heading towards the same, curently trading above 14 Day SMA on hourly charts. Momentum indicators like RSI is neautral with MACD below zero line giving buy signals.

Our Preference: – Buy at 78.20-78.25

Target – 78.45-78.50

Stop loss – 78.10

GBPINR: – Seen taking resistance at around 89.70 levels, currently above 21 day SMA on hourly charts. Momentum indicators Like MACD above zero line and RSI above 50 giving sell signals.

Our Preference: – Sell at 89.65

Target – 89.40-89.45

Stop loss – 89.75

JPYINR: – After a sharp fall on daily charts seen recovering during the day support seen at around 0.6100 levels. Momentum indicators like MACD below zero line and RSI is giving buying signals.

Our Preference: – Buy below 0.6120

Target – 0.6135-0.6140

Stop loss – 0.6110