USDINR: Momentum indicator RSI (14 period) is looking extremely oversold on the hourly chart. The price action is deviated way far from the moving averages, suggesting a possible pullback.
Our Preference: – Buy at 72.60-65
Target – 72.90
Stop loss – 72.50
JPYINR: A bullish divergence in slow stochastic at oversold area is seen on the chart, a bullish crossover between %K and %D is witnessing the prices to go higher. A hammer formation at the bottom is justifying the entry of bulls.
Our Preference: – Buy at 0.6438
Target – 0.6470
Stop loss –0.6422