27th August: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report

Insignia Consultants

New Delhi

Monday, August 27, 2012

TIME: 07:08 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

Rupee will take cues from the trend of the US dollar and stock markets. It better to trade in technical as they is not much news expected today to influence the rupee against the major currencies.  

Trading strategy For the very large traders and high risk traders

USD/INR AUGUST: Buy on dips with a stop loss below 55.1300. Jobbers can sell below 55.48 for 55.35-55.19

EURO/INR AUGUST: Buy on dips with a stop loss below 68.80. Jobber can sell below 69.1125 for 69.0250-68.9050

GBP/INR AUGUST: Buy on dips with a stop loss below 87.52 and target of 88.15. Jobbers can sell below 87.6100 for 87.5200-87.2650

JPY/INR AUGUST: Buy only if yen/inr trades over 70.4900.

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) AUGUST – 55.4800

Bullish over 55.4800 with 55.85-56.1625 as price target

Bearish below 55.3025 with 55.1150 and 54.7975 as price target

Neutral Zone: 55.3025-55.48..

BREAK POINT: - 55.4800

·         55.48 is the key support and rupee to trade over 55.4800 to target 55.8500.

·         There will be sellers only below 55.4800 for 55.2500-55.1100

·         A daily close below 55.4800 today will be bearish for tomorrow

EURO-INDIA RUPEE (EUR/INR) AUGUST – 69.3925

Bullish over 69.4750 with 69.8800-70.1700 as price target

Bearish below 69.1100 with 68.9000-68.8100 as price target

Neutral Zone: 69.1100-69.4750

BREAK POINT: 69.4750

• 69.4750 is the key short term resistance and euro/inr needs to break and trade over 69.4750 for 70.1700.
• However failure of euro/inr to break past 69.4750 will result in a fall to 69.11 and 68.9100

UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 87.8375

Bullish over 87.6175 with 88.1525 and 88.5000 as price target

Bearish below 87.5200 with 87.1725-86.9400 as price target

Neutral Zone: 87.5200-87.6175

BREAK POINT: 87.6200

·         Pound/Inr can rise to 88.15-88.50 as long as it trades over 87.6200

·         There will be sellers only below 87.6200

JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.3900

Bullish over 70.21 with 70.4900 and 71.4025 as price target

Bearish below 70.0600 with 69.8850 and 69.3825 as price target

Neutral Zone: 70.0600-70.2100

BREAK POINT: - 70.4900

• Yen/inr needs to break 70.49 for 71.9075. A daily close below 70.21 today will be bearish for tomorrow.
• There will be buyers only if yen trades over 70.4900

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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