Oct 11 2018

Trade idea for the day

USDINR: A Short term double top is seen on 30 minutes chart, suggesting a intra-day fall in USDINR. RSI(14 period) turned back from overbought region with a negative price divergence.

Our Preference: – Sell at 74.40-43

Target – 74.25

Stop loss – 74.50.

EURINR: A short term support of 50 period EMA is seen on the hourly chart , and the pair seems holding the support zone. RSI (14) is trying to inch back towards 70 zone from 50 mark.

Our Preference: – Buy at 85.65

Target – 85.95

Stop loss –85.50