Nov 12 2018

Trade idea for the day

USDINR: MACD and Signal line bullish crossover has taken place on the hourly chart, suggesting a possible upside for intraday. Immediate resistance of 50 period EMA is at around 73.00 mark.

Our Preference: – Buy at 72.84

Target – 72.99

Stop loss – 72.79

JPYINR: On a 30 minutes chart, the pair seems trading close to its short term trend line resistance. A shooting star and RSI(14 period) in overbought territory is witnessing a possible down move.

Our Preference: – Sell at 0.6400

Target – 0.6372

Stop loss –0.6409