Apr 17 2018

Trade Idea for the day

USDINR :- Rupee at 6 month low , is trading well above 14 day SMA. Technical indicators like RSI towards overbought zone and MACD above zero line giving sell signals.

Our Preference:-  Sell Above 65.60

Target – 65.40-65.45

Stop loss – 65.73

EURINR: – Technical indicators like RSI in overbought territory and MACD above zero line indicating the pair can be seen correcting on hourly charts , holding well above 14 Day SMA on hourly charts.

Our Preference: – Sell above 81.40-81.45

Target – 81.05-81.10

Stop loss – 81.61

GBPINR: – RSI at around 80 is strongly indicating intraday weakness and MACD above the zero line giving sell signals, pair is trading above 21 day SMA on hourly charts.

Our Preference: – Sell above 94.30

Target – 94.00-94.05

Stop loss – 94.43

JPYINR: – Pair is trading above 14 Day SMA on hourly charts, RSI around overbought territory and MACD above zero line giving sell signals.

Our Preference: – Sell above 0.6135

Target – 0.6100-0.6105

Stop loss – 0.6151