USDINR: After a gap down and a intraday fall in USDINR the momentum indicator slow stochastic gone below its oversold area, and only at that zone indicated a bullish crossover. Immediate resistance is seen at 73.98-74.00.
Our Preference: – Buy at 73.70-75
Target – 73.95-74.00
Stop loss – 73.59.
JPYINR: A reversal pattern “Head and Shoulder” breakout is seen on hourly chart – suggesting the price will continue is the breakout direction. RSI (14) turned back from 30 mark.
Our Preference: – Sell at 0.6561
Target – 0.6510
Stop loss – 0.6587