May 21 2018

Trade Idea for the day

USDINR :- Trading close to the opening levels of 68.12, Currently holding above 14day SMA. Momentum indiactors like MACD above zero line and RSI around oversold zone giving sell signals.

Our Preference:-  Sell around 68.12

Target – 67.90-67.95

Stop loss – 68.21

EURINR: – Pair seen consolidating at current levels on daily charts, below 21 day SMA now on hourly. Technicals like RSI indicating to buy and MACD below zero line giving buy signals.

Our Preference: – Buy at 79.80-79.85

Target – 80.10-80.15

Stop loss – 79.67

GBPINR: – Pair is seen taking support at around 91.20 levels on hourly charts, Currently trading below 21 day SMA. Technical indicators like RSI towards oversold category and MACD below zero line giving buying signals.

Our Preference: – Buy Around 91.30

Target – 91.70-91.80

Stop loss – 91.35

JPYINR: – Pair moved lower after USDINR touched day’s low of 68.03 levels, currently below 14 day SMA on hourly charts. Momentum indicators Like RSI towards oversold territory and MACD below zero line giving buy signals.

Our Preference: – Buy around 0.6110

Target – 0.6130-0.6135

Stop loss – 0.6098