Jun 11 2018

Trade Idea for the day

USDINR :-  Since the opening of 67.46 pair touched a low of 67.2925, currently below 21 day SMA on hourly charts. Momentum indicators are neutral with RSI at 49 and MACD around zero line.

Our Preference:-  Buy Below 67.35

Target – 67.55-67.60

Stop loss – 67.25

EURINR: – Seen consolidating at current levels of 79.40, pair likely to take resistance around blue line. Technical indicators like RSI around 50 levels and MACD around zero line are Neutral.

Our Preference: – Buy Below 79.40

Target – 79.60-79.65

Stop loss – 79.29

GBPINR: – A sharp fall on hourly charts on back of disappointing Industrial production and trade data, currently below 14 Day SMA. Momentum indicators Like MACD around zero line and RSI around 40 giving buying signals.

Our Preference: – Buy below 90

Target – 90.30-90.35

Stop loss – 89.85