Aug 01 2018

Trade Idea for the day

USDINR: The pair is likely to find its bottom around 68.45 intraday, as 14Period SMA is at around  68.45 and along with that MACD is giving a bullish crossover with signal line.

Our Preference: – Buy at 68.45-48

Target – 68.60 and 68.65

Stop loss – 68.36

EURINR: The pair seems to get bottom out around at 79.95 for intraday, as MACD and RSI(14) both are indicating the pair to reverse with bullish indications. Immediate resistance of 50 period EMA seen at 80.15.

Our Preference: – Buy at 79.96

Target – 80.15

Stop loss – 79.90

GBPINR: A positive divergence with a bullish crossover is seen in MACD indicator on a hourly chart. Indicating the prices to move higher.

Our Preference: – Buy at 89.80

Target – 90.10

Stop loss – 89.65

JPYINR: The pair stopped its losses after a steep yesterday’s fall and at present is consolidating in a narrow 8 paisa range. MACD is giving a bullish crossover with signal line. Immediate resistance of 50 period EMA is at 0.6146.

Our Preference: – Buy at current 61.20

Target – 61.46

Stop loss – 61.12