Oct 31 2018

Trade idea for the day

USDINR: The pair seems posted its intraday peak at 74.13 as RSI (14 period) is in extreme overbought territory, which is signalling a possible price reversal. Immediate support is seen at 73.84.

Our Preference: – Sell at 74.05

Target – 73.85

Stop loss – 74.16

GBPINR: The pair seems trading close to its short term resistance zone, which is coming at around 94.27. Slow Stochastic and RSI (14 period) both are in overbought zone

Our Preference: – Sell at 94.15-20

Target – 93.76

Stop loss –94.32