Jul 23 2018

Trade Idea for the Day

USDINR: Pair is likely to take resistance around its previous day low, as today there is a gap down open at 68.70 against the previous day low of 68.82, we feel that it can cover the Gap today itself.

Our Preference: – Buy at 68.68

Target – 68.82

Stop loss – 68.63

EURINR:- Pair is presently trading at its day low, though the overall strength is also seems to be on weaker side for the day. EURINR is trading below its 14-hour SMA with a bearish crossover of MACD and Signal line.

Our Preference:- Sell at 80.60

Target:- 80.43

Stoploss:- 80.68

JPYINR:-The pair is struggling with a technical hurdle for moving further higher, a down ward sloping trend-line resistance and 14-Day RSI turned back after getting in to overbought zone.

Our Preference:-Sell at 0.6193

Target:-0.6181 and 0.6172

Stoploss:- 0.6198