Sep 07 2018

Trade idea for the day

USDINR:A 50 period EMA support is seen at 71.70 mark in 30 minutes chart. RSI (14 period) has gone below 50 mark, at 44 now – close to its oversold zone.

Our Preference: – Buy at 71.70

Target – 71.90

Stop loss – 71.60

EURINR: The pair is trading well above 50 period EMA with a double candlestick reversal (Piercing Pattern) at that moving average support. Immediate resistance is at 83.85.

Our Preference: – Buy at 83.50

Target – 83.85

Stop loss – 83.35

GBPINR: The pair seems facing intra-day resistance at around 93 mark. RSI 14 period is neutral at close to 50 mark. Immediate support of 50 period EMA is coming at 92.73

Our Preference: – Sell at 93.00

Target – 92.72

Stop loss – 93.12

JPYINR: The pair fallen back after facing a upward sloping trend line resistance at 0.6516, slow stochastic is also showing the bearish divergence in it. Immediate support is at 0.6468.

Our Preference: – Sell at 0.6495

Target – 0.6468

Stop loss – 0.6510