21st September: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report

Insignia Consultants

New Delhi

Friday, September 21, 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

It seems that the UPA government will not fall even if Trinamool Congress withdraws its support. FDI in retail has been notified. The big question is that in the next twenty months there has to be general elections. After that if the congress does not comes to power then FDI in retail can be withdrawn. Foreigners will invest in India but with a caution. In 2013 there are a number of state elections where Congress is in power.  Political developments will be the key over the next twelve months despite no threat to the UPA government.

On the reforms front there is huge pressure to deliver. Month end demand and quarter end demand will start to pick up. US dollar inflows in India by non resident Indians will rise from now as they take advantage of a seemingly weaker rupee.

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 54.3375)

Bullish over 54.2225 with 54.4975-54.9650 as price target

Bearish below 53.9600 with 53.6325 and 53.3675 as price target

Neutral Zone: 53.9600-54.2225

BREAK POINT: - 54.4200

·         Rupee needs to trade over 54.4225 for 54.7975-55.0200

·         Another wave of buying will be there only over 54.4225 for 54.9650

EURO-INDIA RUPEE (EUR/INR) SEPTEMBER – (CURRENT PRICE 70.3450)

Bullish over 70.6000 with 71.1500-71.3225 as price target

Bearish below 70.4650 with 70.2250-69.6750 as price target

Neutral Zone: 70.4650-70.6000

BREAK POINT: 70.5125

• 70.5125 is the key resistance and euro/inr needs to trade over 70.5125 to target 71.15
• 69.9575 is the key short term support and for the rest of the month another wave of selling will be only below

UK POUND -INDIA RUPEE (GBP/INR) SEPTEMBER – (CURRENT PRICE 87.9475)

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 88.7475-89.1100

·         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 69.4375)

Bullish over 69.0100 with 70.5300 and 70.8650 as price target

Bearish below 68.8800 with 68.6325 and 68.2950 as price target

Neutral Zone: 68.8800-69.0100

BREAK POINT: - 69.7925

• Yen inr needs to trade over 69.1800 to target 70.1200-70.5300
• Another wave of selling will be there only below 69.1800 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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