May 16 2018

Trade Idea for the day

USDINR :-  Rupee opened at 68.14 likely RBI intervention resulted in rupee touching 68 levels in a few minutes of trade, Currently trading below 14 day SMA. Momentum indicators like RSI is neutral on hourly charts with MACD above zero line indicating to sell.

Our Preference:-  Sell above 67.90

Target – 67.65-67.70

Stop loss – 68.03

EURINR: – U.S. treasury yield hitting fresh multi-year high resulted in euro cross falling below 1.1850 mark, currently EURINR pair is trading below 14 day SMA on hourly charts. Technically RSI in oversold territory and MACD below zero line giving buy signals.

Our Preference: – Buy around 80.25

Target – 80.50-80.60

Stop loss – 80.09

GBPINR: – Pair has corrected after touching 92 levels on greenback strength, Currently trading below 21 day SMA. Momentum indicators like RSI indicating to buy and MACD around zero line giving buy signals.

Our Preference: – Buy Around 91.50

Target – 91.70-91.80

Stop loss – 91.35

 

JPYINR: – Pair moved higher after USDINR crossed 68 mark , currently trading below 14 day SMA on hourly charts. Momentum indicators MACD below zero line and RSI giving buy signals.

Our Preference: – Buy around 0.6150

Target – 0.6170-0.6180

Stop loss – 0.6137