Aug 02 2018

Trade idea for the day

USDINR: Rupee gains towards its critical support of 68.27 and from that level the pair gets oversold as RSI(14) goes below 30 mark, after that the pair turns back and likely to approach the immediate resistance of 50-period EMA..

Our Preference: – Buy at 68.35-38

Target – 68.56

Stop loss – 68.25

EURINR: Positive divergence in RSI(14 period) at oversold region is clearly visible on 30 minutes chart. The pair has already found its trend line support at current levels.

Our Preference: – Buy at 79.60

Target – 79.90

Stop loss – 79.45