Nov 13 2018

Trade idea for the day

USDINR: Relative Strength Index (RSI 14 period) started turning back from its oversold zone. A short term trend-line support is seen at levels around 72.50.

Our Preference: – Buy at 72.58-60

Target – 72.80

Stop loss – 72.50

EURINR: On the hourly chart, a bullish divergence between price action and slow stochastic is seen – signalling the prices to reverse. Immediate resistance is seen towards 82.00 mark.

Our Preference: – Buy at 81.64

Target – 81.97

Stop loss –81.51