Nov 01 2018

Trade idea for the day

USDINR: The pair seems taking support at levels around 73.75-78 or we can say a throwback towards the breakout zone is giving an opportunity to enter the long in USDINR. RSI (14 period) is above 50 mark, signalling the pair to move higher.

Our Preference: – Buy at 73.80

Target – 74.13

Stop loss – 73.65

EURINR: The pair is hovering in a short term upward sloping trend channel, at present it is trading close to the support zone of trend channel. RSI (14 period) is neutral at sub 50 mark.

Our Preference: – Buy at 83.72

Target – 84.02

Stop loss – 83.57