Feb 13 2019

Trade idea of the day

USDINR– We see today’s opening with gap down move. According to hourly chart, Momentum Indicators are in oversold territory- Relative Strength Index of 14 day is at 24 and Stochastic is at 11.

Our Preference– Buy at 70.54 (Current level)

Target– 70.75

Stop loss– 70.43

GBPINR– In the chart, effective indicators signaling intraday move downside. Stochastic Slow is at 77 and RSI (14 day) is at 60- Both indicators are near to its overbought zone.

Our Preference– Sell at 91.10

Target– 90.80

Stop loss– 91.27