Wednesday, August 22, 2012

23rd August: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report



Insignia Consultants

New Delhi

Thursday, August 23, 2012

TIME: 09:30 am IST            

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NSE CURRNCY FUTURES/MCX-SX CURRENCY FUTURES TECHNICAL REPORT

(All prices are in Indian rupees below in this report)

Commentary

US dollar weakness is the key reason for rupee gains against the US dollar. Further hopes of more economic reforms next months has prevented traders from going long against the greenback. Indian bank employees continue strikes today also. This has limited trading volumes in the Indian inter-bank market.

Trading strategy For the very large traders and high risk traders

USD/INR AUGUST: Sell on rise with a stop loss over 55.75

EURO/INR AUGUST: Buy on dips with a stop loss below 68.80

GBP/INR AUGUST: Buy on dips with a stop loss below 87.52 and target of 88.15. If the stop loss is hit then sell 87.20-86..80

JPY/INR AUGUST: Watch 69.86

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) AUGUST – 55.2700

Bullish over 55.4875 with 55.66-55.86 as price target

Bearish below 55.3525 with 55.1350 and 54.8225 as price target

Neutral Zone: 55.3525-55.4875

BREAK POINT: - 55.3525

·         55.1325 is the key intra day support and rupee needs to trade over 55.1325 to target 55.4875-55.60.

·         There will be demand around 55.00 and there will be another wave of selling below 55.00, else dips are a buying opportunity.

EURO-INDIA RUPEE (EUR/INR) AUGUST – 69.2950

Bullish over 69.1000 with 69.62-69.9500 as price target

Bearish below 68.9400 with 68.6700-68.3500 as price target

Neutral Zone: 68.9400-69.1000

BREAK POINT: 69.1000

  • 69.1025 price target achieved. Euro/inr needs to trade over 69.1025 to target 69.95-70.37. Supports starts at 69.10 and further at 68.66
  • Those who are long use a trailing stop loss below 68.80

UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 87.8175

Bullish over 87.7200 with 87.9525 and 88.3200 as price target

Bearish below 87.58 with 87.3750-87.1650 as price target

Neutral Zone: 87.5800-87.7200

BREAK POINT: 87.71

·         Pound/Inr needs to break 88.2900 by Monday to target 89.41. If pound is not able to break 88.2900 by Monday then it will fall to 87.0750

·         If you short then use a trailing stop loss of 88.10

JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.3025

Bullish over 70.1925 with 70.5200 and 71.1225 as price target

Bearish below 69.8600 with 69.6750 and 69.4650 as price target

Neutral Zone: 69.8600-70.1925

BREAK POINT: - 70.1900

  • 70.2350 price target achieved. Yen can rise to 70.67-71.37 as long as it trades over 70.1900.
  • There will be sellers below 70.1900

Happy profitable trading & Trade without emotions

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Website www.insigniaconsultants.in

Disclosure: The directors have short positions in usd/inr and jpy/inr

"Print this report only if absolutely necessary. Save Paper. Save Trees."

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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