Nov 05 2018

Trade idea for the day

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