Feb 18 2019

Trade idea of the day

USDINR:-The pair seems trading close to its short term resistance zone, which is at around 71.50-55 (a trend-line resistance). RSI (14 period) is in its overbought territory – signalling a possible reversal.

Our Preference:- Sell at  71.50 – 71.55

Target- 71.20

Stop loss- 71.67

EURINR:-Golden crossover between 50 period EMA and 200 period SMA has happened over the hourly chart, suggesting a possible upside in the pair. RSI (14 period ) is above 50 mark – signalling the bulls strength.

Our Preference:- Buy at 80.60

Target- 80.90

Stop loss- 80.45