Apr 27 2018

Trade Idea for the day

USDINR :- Pair is trading below 14 day SMA on hourly charts. Momentum indicators like RSI is neutral  and MACD around zero line giving buy signals.

Our Preference:-  Buy at 66.65-66.70

Target – 66.85-66.90

Stop loss – 66.57

EURINR: – On daily charts pair has seen a sharp fall in last 2 days currently trading below 14 day SMA on hourly charts , technically pair can be bought as RSI is around oversold zone with MACD below zero line.

Our Preference: – Buy below 80.60

Target – 80.80-80.85

Stop loss – 80.47

GBPINR: – The recent GDP data came well below expectation resulting in the sharp fall in GBP crosses. RSI in oversold territory with MACD below zero line showing signs of recovery.

Our Preference: – Buy at 92.00-92.05

Target – 92.30-92.35

Stop loss – 91.85

JPYINR: – Trading in a narrow range since past few sessions currently trading below 14 Day SMA on hourly charts, RSI  is heading towards oversold and MACD below zero line giving buy signals.

Our Preference: – Buy around 0.6100

Target – 0.6125-0.6130

Stop loss – 0.6081