Oct 19 2018

Trade idea for the day

USDINR: The pair turned back after attempting the 50 period EMA resistance at 73.66. Immediate trend-line support is seen at 73.30, RSI (14 period) is hovering below 50 mark, indicating bears strength is more.

Our Preference: – Sell at 73.55

Target – 73.30

Stop loss – 73.67

EURINR: After a steep fall in EURINR, the prices started consolidating in a narrow range. Price divergence is seen with On balance Volume (OBV) indicator, which is suggesting a possible intra-day rally.

Our Preference: – Buy at 84.20

Target – 84.40 and 84.50

Stop loss –84.08