Feb 15 2019

Trade idea of the day

USDINR– After the opening with gap up move, the pair is likely to cover this gap. Momentum Indicators signaling bearishness in the pair- Stochastic slow is at 93 and RSI is at 81, both are in overbought territory.

Our Preference– Sell at 71.30

Target– 71.05

Stop loss– 71.42

GBPINR– According to hourly chart, Intraday traders can go for sell position for immediate target. Relative Strength Index of 14 period is at 73 and Stochastic slow is at 79 (near to the overbought zone).

Our Preference– Sell at 91.40

Target– 91.10

Stop loss– 91.55