Nov 06 2018

Trade idea for the day

USDINR: An immediate resistance of 50 period EMA is seen at 73.09, which seems to be a barrier for prices to move higher. RSI (14) is below 50 mark.

Our Preference: – Sell at 73.06-09

Target – 72.90

Stop loss – 73.15

JPYINR: On a hourly chart the pair turned back after struggling with resistance zone at 0.6448. MACD and Signal line bearish crossover has taken place at overbought territory.

Our Preference: – Sell at 0.6433

Target – 0.6395

Stop loss –0.6450