May 09 2018

Trade Idea for the day

USDINR :- Technically overbought on daily and weekly charts , currently holding above 14 day SMA. Momentum indiactors on hourly charts like RSI indicating to sell with MACD above zero line.

Our Preference:-  Sell at 67.40-67.45

Target – 67.25-67.30

Stop loss – 66.52

EURINR: – Seen taking support at around 79.50 levels , trading above 21 day SMA. Momentum indicators like RSI is neutral with MACD below zero line giving buy signals.

Our Preference: – Buy Around 79.70-75

Target – 79.90-79.95

Stop loss – 79.60

GBPINR: – Pair has recovered on daily charts, holding above 5 day SMA. MACD above zero line and RSI indicating to sell for intraday.

Our Preference: – Sell around 91.20

Target – 90.90-90.95

Stop loss – 91.32