May 22 2018

Trade Idea for the day

USDINR :- A gap down opening pushed the pair towards yesterday closing levels seen taking resistance around the same level of 68.12. Technical indiactors like RSI indcating to sell with MACD above zero line.

Our Preference:-  Sell around 68.08

Target – 67.90-67.95

Stop loss – 68.15

EURINR: – Seen taking resistance at around horizontal blue line, currently above 21 day SMA on hourly charts. Technically RSI indicating to Sell and MACD above zero line giving sell signals.

Our Preference: – Sell around 80.35

Target – 80.10-80.15

Stop loss – 80.51

GBPINR: – Pair moved higher since opening level , Currently trading above 21 day SMA. Technical indicators like RSI indicating to sell with MACD around zero line giving sell signals.

Our Preference: – Sell Around 91.65

Target – 91.30-91.35

Stop loss – 91.20

JPYINR: – Seen taking trend line support at around 0.6120 levels, expected to move higher from current levels. Momentum indicators Like RSI is nuetral with MACD around zero line giving buy signals.

Our Preference: – Buy around 0.6125

Target – 0.6140-0.6145

Stop loss – 0.6118