May 02 2018

Trade Idea for the day

USDINR :-  Seen taking support at around 66.65 levels currently trading below 21 day SMA, Momentum indicators like RSI is neutral  and MACD above zero line.

Our Preference:-  Buy at 66.65

Target – 66.80-66.85

Stop loss – 66.57

EURINR: – The recent fall in the pair has been on account of correction in euro crosses currently trading around 21 day SMA on hourly charts , Momentum indicators like MACD below zero line is indicating to buy with RSI neutral.

Our Preference: – Buy below 80.10

Target – 80.40-80.45

Stop loss – 79.90

GBPINR: – Recovery in GBP crosses pushed the pair higher above 21 day SMA now. RSI is indicating buy with MACD below zero line giving buy signals.

Our Preference: – Buy below 90.90

Target – 91.20-91.25

Stop loss – 90.70

JPYINR: – Pair currently trading below 14 day SMA seen taking support around day’s low levels, RSI indicating buy and MACD below zero line giving buy signals.

Our Preference: – Buy below 0.6070

Target – 0.6085-0.6090

Stop loss – 0.6058