Jun 27 2018

Trade Idea for the day

USDINR :- Local pair given a gap up opening on daily charts and has broken past the recent high of 68.46, currently above 14 day SMA on hourly charts. Momentum indicators like RSI above 70 is in overbought zone and MACD above zero line giving sell signals.

Our Preference:-  Sell above 68.55

Target – 68.35-68.40

Stop loss – 68.65

EURINR: – Pair has recovered from recent lows and is trading close to 80 now, currently trading above 21 day SMA on hourly charts. Technical indicators like RSI at 64 levels with MACD above zero line giving sell signals.

Our Preference: –  Sell above 79.95

Target – 79.60-79.70

Stop loss – 80.11

GBPINR: – Pair recovered from recent lows and is trading close to 90.50, currently trading above 21 Day SMA on hourly charts. Momentum indicators like RSI at 57 and MACD above zero line giving sell signals.

Our Preference: – Sell above 90.60

Target – 90.30-90.40

Stop loss – 90.72

JPYINR: – The pair is seen taking resistance above 0.6250 levels, currently trading above 21 day SMA on hourly charts. Momentum indicators like MACD above zero line and RSI at 66 giving sell signals.

Our Preference: – Sell above 0.6250

Target – 0.6220-0.6230

Stop loss – 0.6265