Oct 30 2018

Trade idea for the day

USDINR: The pair seems resisting at levels around 73.60-62 – a trend-line resistance at 73.60-65. Immediate support is seen at 73.45. RSI turned back from overbought region.

Our Preference: – Sell below 73.60-63

Target – 73.45

Stop loss – 73.66

JPYINR: The pair seems finding short term support on the hourly chart at an upward sloping trend-line. A reversal candle Doji has also formed on the chart suggesting a possible up-move.

Our Preference: – Buy at 0.6525

Target – 0.6550

Stop loss –0.6512