USDINR: RSI (14 period) is seem gaining bullish momentum as the indicator is above 50 mark. Immediate resistance of 50 period EMA is at around 73.10.
Our Preference: – Buy at 72.95-98
Target – 73.10 and 73.20
Stop loss – 72.90
GBPINR: On a 30 minutes chart the pair is still looking bullish, but as it has risen much we are expecting a mild correction before proceeding further (Indicators are in overbought territory). One can capture that correction to go long in GBPINR.
Our Preference: – 94.90
Target – 95.40
Stop loss –94.75