Insignia Consultants
New Delhi
Tuesday, August 21, 2012
TIME: 08:15 am IST
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NSE CURRNCY FUTURES/MCX-SX CURRENCY FUTURES TECHNICAL REPORT
Trading strategy For the very large traders and high risk traders
USD/INR AUGUST: Sell only if rupee trades below 55.90.
EURO/INR AUGUST: Sell only if it trades below 68.7000
GBP/INR AUGUST: Sell only if cable trades below 87.4000
JPY/INR AUGUST: Sell only if yen trades below 71.15
TECHNICAL VIEW
US-DOLLAR – INDIAN RUPEE (USD/INR) AUGUST – 55.80
Bullish over 55.7600 with 56.1800-56.6500 as price target
Bearish below 55.6200 with 55.4625-55.2150 as price target
Neutral Zone: 55.6200-55.7600
BREAK POINT: - 55.8825
· In the short term there is a mini double bottom formation around 54.90 which suggest that rupee can rise to 56.65-58.25 as long as it trades over 54.90
· Today rupee needs to break 56.25 else it will trade in 55.55-56.25 wider range
· Trading call: sell at 56.38 stop loss 56.75 target 55.6800-55.4800
EURO-INDIA RUPEE (EUR/INR) AUGUST – 68.9150
Bullish over 68.7700 with 69.14-69.9500 as price target
Bearish below 68.6800 with 68.4600-68.1200 as price target
Neutral Zone: 68.6800-68.7100
BREAK POINT: 68.9700
- A break of 69.0250 will pave the way for 69.14-69.75
- There will be sellers only below 68.77
- Trading call: Sell at 69.35 stop loss 69.51 target 68.71-68.41
UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 87.4575
Bullish over 87.4100 with 87.8825 and 88.3200 as price target
Bearish below 87.3575 with 87.1850-86.7825 as price target
Neutral Zone: 87.3575-87.41
BREAK POINT: 87.6200
· Pound can rise to 87.80 and 88.25 as long as it trades over 87.35
· There will be sellers only below 87.35
· Trading call: Buy at 88.10 stop loss 87.98 target 88.85
JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.2050
Bullish over 70.3700 with 70.7800 and 71.1225 as price target
Bearish below 70.1900 with 70.0100 and 69.6400 as price target
Neutral Zone: 70.3100-70.7200
BREAK POINT: - 70.3700
- Yen needs to trade over 70.37 today else to target 70.77-71.33.
- Trading call: Sell at 71.35 stop loss 71.52 target 70.73-70.45
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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