Nov 09 2018

Trade idea for the day

USDINR: Slow Stochastic reached below its oversold zone on the hourly chart, signalling the prices to reverse. Price action is deviated much from 50 period EMA.

Our Preference: – Buy at 72.50.55

Target – 72.90

Stop loss – 72.43

EURINR: A Short term bottom on the 30 minutes chart is looking at around 82.12. Relative Strength Index (14 period) is below 50 mark and is likely to test its oversold area.

Our Preference: – Buy at 82.10-15

Target – 82.48

Stop loss –81.98