Insignia Consultants
New Delhi
Friday, September 14, 2012
TIME: 08:54 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
There are all the positive news for rupee to gain against the major currencies. Diesel price hike by Rs.5.00 is a short in the arm for rupee bulls. I just hope there is no partial roll back of diesel price hike as in past occasions. The Federal Reserve buying of $40 billion bonds is another plus for the rupee. It remains to be seen whether demand for dollars is there or not at lower prices. Hopefully importers will come up and lap extra dollar supplies. H
Trading strategy For the very large traders and high risk traders
USD/INR SEPTEMBER: Sell only if rupee trades below 55.1000 for 54.9675-54.74
EURO/INR SEPTEMBER: Buy only if euro/inr trades over 71.52 for 71.79-71.92
GBP/INR SEPTEMBER: Buy gbp/inr only if it trades over 89.25 for 89.52-89.81
JPY/INR SEPTEMBER: Sell jpy/inr only below 70.9300
TECHNICAL VIEW
US-DOLLAR – INDIAN RUPEE (USD/INR) SEPTEMBER – (CURRENT PRICE 55.4275)
Bullish over 55.2500 with 55.4700-55.6100 as price target
Bearish below 55.1200 with 54.7800 and 54.5200 as price target
Neutral Zone: 55.1200-55.2500
BREAK POINT: - 55.12
· Rupee can fall to 54.7975 as long as it trades below 55.3700
· Another wave of selling will be there only below 54.9800 to 54.7975 and 54.4975
EURO-INDIA RUPEE (EUR/INR) SEPTEMBER – (CURRENT PRICE 71.4625)
Bullish over 71.3800 with 71.6000-72.0200 as price target
Bearish below 71.2000 with 70.9350-70.5700 as price target
Neutral Zone: 71.2000-71.3800
BREAK POINT: 71.6000
- Euro/inr needs to trade over 71.38 to target 71.97-72.25
- Key intra day support is at 71.20 and there will be sellers only below 71.20
UK POUND -INDIA RUPEE (GBP/INR) SEPTEMBER – (CURRENT PRICE 89.1800)
Bullish over 89.0225 with 89.3800 and 89.6325 as price target
Bearish below 88.9800 with 88.7450-88.4900 as price target
Neutral Zone: 88.9800-89.0225
BREAK POINT: 89.2800
· Pound/Inr needs to trade over 89.2800 to target 89.6325-89.9575
· There will be sellers only if cable trades below 89.2800
JAPANESE YEEN -INDIA RUPEE (JPY/INR) SEPTEMBER – (CURRENT PRICE 71.2700)
Bullish over 71.3700 with 71.5200 and 71.7600 as price target
Bearish below 71.1200 with 70.9700 and 70.6700 as price target
Neutral Zone: 71.1200-71.3700
BREAK POINT: - 71.1925
- Yen needs to trade over 71.1900 to target 71.5300-71.8075
- There will be sellers only below 71.1900
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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