Aug 20 2018

Trade idea for the day

USDINR: The pair is trading well below 50 period EMA – indicating the strength of bears over bulls. RSI (14) is hovering at around 30 mark.

Our Preference: – Sell at 69.85-88

Target – 69.70

Stop loss – 69.92

EURINR: After a steep intraday fall, it seems the pair is trying to stop its losses. A 200 period SMA support is at 79.49, that means near to current levels and along with that RSI(14) is nearing its oversold territory.

Our Preference: – Buy at 79.50-55

Target – 79.85

Stop loss – 79.40