Insignia Consultants

New Delhi

Thursday, August 30, 2012

TIME: 09:58 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

Tomorrow India releases its first quarter GDP numbers (April to June). If the numbers are below 5% then rupee (usd/inr) can weaken to 57.25 and 58.60 in the short term. The next eight days are very crucial for a short term direction of the rupee.

Trading strategy For the very large traders and high risk traders

USD/INR SEPTEMBER: Buy only if it usd/inr trades over 56.0200

EURO/INR SEPTEMBER: Sell only if euro/inr trades below 69.9800

GBP/INR SEPTEMBER: Sell only if gbp/inr trades below 88.1500

JPY/INR SEPTEMBER: sell only if yen/inr trades below 70.99

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) SEPTEMBER – 55.9425

Bullish over 55.8200 with 56.0750-56.2550 as price target

Bearish below 55.6900 with 55.4800 and 55.2500 as price target

Neutral Zone: 55.6900-55.8200

BREAK POINT: - 55.9825

· A break of 56.0200 will pave the way for 56.2750-56.5750. On the lower side as long as 55.7800 holds downside risk will be limited

· There will be sellers only below 55.7200.

EURO-INDIA RUPEE (EUR/INR) SEPTEMBER – 70.0675

Bullish over 69.9550 with 69.8800-70.1700 as price target

Bearish below 69.6850 with 69.5250-69.4250 as price target

Neutral Zone: 69.6850-69.5550

BREAK POINT: 70.1700

A consolidated break of 70.17 will pave the way for 70.52-71.07.
There will be sellers only below 69.9800

UK POUND -INDIA RUPEE (GBP/INR) SEPTEMBER – 88.3900

Bullish over 88.1500 with 88.5025 and 88.8300 as price target

Bearish below 87.9800 with 87.6125-87.3700 as price target

Neutral Zone: 87.9800-88.1500

BREAK POINT: 88.15

· Pound/Inr can rise to 88.8325 as long as it trades over 85.1500

· There will be sellers only below 88.1500

JAPANESE YEEN -INDIA RUPEE (JPY/INR) SEPTEMBER – 71.0500

Bullish over 70.8975 with 71.3700 and 71.6525 as price target

Bearish below 70.7750 with 70.5750 and 70.37 as price target

Neutral Zone: 70.7750-70.8950

BREAK POINT: - 70.9925

70.8975 is the key support and yen/inr can rise to 71.8950 as long as it trades over 70.8975
There will be sellers only below 70.99

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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