Apr 23 2018

Trade Idea for the day

USDINR :- Rupee at 1 year low , currently trading above 21 day SMA on hourly charts. Momentum indicators like RSI heading towards overbought teritory and MACD above zero line giving sell signals.

Our Preference:-  Sell above 66.25

Target – 66.00-66.05

Stop loss – 66.36

EURINR: – Pair trading around 21 Day SMA on hourly charts. MACD Crossover below zero line and RSI giving buying signals.

Our Preference: – Buy below 81.25-81.30

Target – 81.55-81.60

Stop loss – 81.15

GBPINR: – Pair has seen some correction after a rally of 8 days, currently trading around 14 day SMA. RSI heading towards oversold territory with MACD below zero line giving buy signals.

Our Preference: – Buy below 92.70

Target – 92.90-92.95

Stop loss – 92.57