May 25 2018

Trade Idea for the day

USDINR :- Rupee gained in the initial session against dollar, pair found support at around 68.16 levels today. Technical indicators like indicating to buy with MACD below zero line giving buy signals.

Our Preference:-  Buy around 68.20

Target – 68.35-68.40

Stop loss – 68.13

EURINR: -Down from opening levels likely to take support at around 79.70 levels, trading below 14 Day SMA now. Technically RSI towards oversold teritory and MACD below zero line giving strong buy signals.

Our Preference: – Buy at 79.75-79.80

Target – 80.00-80.05

Stop loss – 79.60

GBPINR: – Formed downward sloping trend channel, likely to take support at the trend line support. Momentum indicators Like RSI Towards oversold teritory and MACD below zero line showing bullish signals.

Our Preference: – Buy below 91.10

Target – 91.40-91.45

Stop loss – 90.95

JPYINR: – USDINR below 68 pulled the pair lower, currently below 14 day SMA on hourly charts. Momentum indicators like RSI towards oversold teritory giving strong buying signals with MACD around zero line giving buying signals.

Our Preference: – Buy below 0.6200

Target – 0.6225-0.6230

Stop loss – 0.6185