Wednesday, September 19, 2012

20th September: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report


Insignia Consultants

New Delhi

Thursday, September 20, 2012

TIME: 08:31 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

Political uncertainty could result in rupee weakening against the major currencies today. There will be short covering as position rebuilding for Monday. The UPA government even if it is in minority will not fall immediately. In the past we have seen the Narsimha Rao government in power for more than a year despite being in minority. Foreign investors will be closely watching the developments before taking a final call on their Indian investments. Certainly the pace of foreign inflows will be below expectations in the next few weeks.

There is an "Nation wide strike" called  by the Bhartiya Janta Party (BJP) and it can reduce trading volumes in currency markets as full working team may not be present in banks and broking houses. Intra day volatility will be high. Trade carefully.

Trading strategy For the very large traders and high risk traders

USD/INR SEPTEMBER: Buy only if usd/inr trades over 54.12725 for 54.76-55.02

EURO/INR SEPTEMBER: Buy only if eur/inr trades over 70.85 for 71.36-71.46

GBP/INR SEPTEMBER: Buy only if gbp/inr trades over 87.6925

JPY/INR SEPTEMBER: Buy jpy/inr only below 69.0200 for 69.5700-70.5200

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) SEPTEMBER – (CURRENT PRICE 54.0850)

Bullish over 54.1425 with 54.4200-54.7900 as price target

Bearish below 53.7600 with 53.6325 and 53.3675 as price target

Neutral Zone: 53.7600-54.1425

BREAK POINT: - 54.4200

·         Rupee needs to trade over 54.1425 for 54.7975

·         Another wave of buying will be there only over 54.3725 for 54.7900

EURO-INDIA RUPEE (EUR/INR) SEPTEMBER – (CURRENT PRICE 71.1500)

Bullish over 70.8725 with 71.7100-72.1500 as price target

Bearish below 70.5100 with 70.1950-69.8775 as price target

Neutral Zone: 70.5100-70.8725

BREAK POINT: 70.5125-71.1550

  • 71.17 price target was achieved. Euro/inr can rise to 71.71-72.15 as long as it trades over 70.9700
  • Another wave of selling will be below 70.9700 only

UK POUND -INDIA RUPEE (GBP/INR) SEPTEMBER – (CURRENT PRICE 87.8525)

Bullish over 88.0200 with 88.7425 and 89.0200 as price target

Bearish below 87.6925 with 87.0250-86.7200 as price target

Neutral Zone: 87.2725-87.6925

BREAK POINT: 88.0200

·         Pound/Inr needs to trade over 88.0200 for 89.0225

·         Another wave of selling will be there only below 87.69 else dips are a buying opportunity.

JAPANESE YEEN -INDIA RUPEE (JPY/INR) SEPTEMBER – (CURRENT PRICE 68.7400)

Bullish over 68.6325 with 69.0100 and 70.5350 as price target

Bearish below 68.2950 with 67.7425 and 67.5350 as price target

Neutral Zone: 68.2950-68.6325

BREAK POINT: - 68.6325

  • Yen inr needs to trade over 68.6325 to target 70.5300-70.8675
  • Another wave of selling will be there only below 68.6325 else dips are a buying opportunity.

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 and employess do not have any open positions. Our clients do trade on the above report.

"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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