Mar 01 2019

Trade idea of the day

USDINR– After yesterday’s bearish move, the pair seems to revive. Momentum indicators are near to their oversold territory- Relative Strength Index of 14 day is at 38 and Stochastic slow is at 20. We see a bullish divergence in Stochastic.

Our Preference– Buy at 70.90

Target-71.10

Stop loss– 70.78

GBPINR– In the hourly chart, pair is likely to move upward. Stochastic slow is at 23, moving upward from oversold zone. Relative Strength Index of 14 day is at 41 and sloping upside.

Our Preference– Buy at 94.00

Target-94.30

Stop loss– 93.85