Jun 21 2018

Trade Idea for the day

USDINR :- Rupee gave a gap down opening of 68.1975 after previous close of 68.07 levels yesterday, currently above 14 day SMA on hourly charts. Momentum indicators are showing nuetral signs with RSI at 56 and MACD around zero line.

Our Preference:-  Buy below 68.15

Target – 68.30-68.35

Stop loss – 68.07

EURINR: – Pair is trading in a narrow range on hourly charts likely to take support around the horizontal blue line, currently around 21 day SMA. Technical indicators are neutral like RSI around 46 levels with MACD just below zero line giving buying signals.

Our Preference: – Buy below 78.75

Target – 79.00-79.05

Stop loss – 78.65

GBPINR: – Pair trading close to 2 week low of 89.45 seen taking support around the same, currently below 14 Day SMA on hourly charts. Momentum indicators Like MACD below zero line and RSI at 41 giving buying signals.

Our Preference: – Buy below 89.55

Target – 89.80-89.90

Stop loss – 89.40

JPYINR: – The pair moved lower after facing resistance above 0.62 levels, currently below 21 day SMA on hourly charts. Momentum indicators like MACD crossover below zero line and RSI at 44 giving buying signals.

Our Preference: – Buy below 0.6160

Target – 0.6180-0.6190

Stop loss – 0.6148