Insignia Consultants
New Delhi
Saturday, August 11, 2012
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WEEKLY NSE CURRNCY FUTURES/MCX-SX CURRENCY FUTURES TECHNICAL REPORT
Trading strategy For the very large traders and high risk traders
USD/INR AUGUST: use a sell on rise strategy as long as rupee des not break 56.15-56.25 with a price target of 55.15-54.90
EURO/INR AUGUST: Sell only if euro trades below 67.58 or sell over 69.10 stop loss 69.95
GBP/INR AUGUST: Buy on sharp dips with a stop loss below 85.2900
JPY/INR AUGUST: Sell over 71.37 stop loss 72.47
TECHNICAL VIEW
US-DOLLAR – INDIAN RUPEE (USD/INR) AUGUST – 55.4975
Bullish over 55.7900 with 56.2900-56.8500 as price target
Bearish below 55.48000 with 55.1300-54.8200-54.1400 as price target
Neutral Zone: 55.4800-55.7900
BREAK POINT: - 55..4875
· Usd/Inr should trade in 54.80-56.25 wider range. Only a break of 56.25 will result in 57.25-57.85.
· There will be buyers at lower prices as long as rupee trades over 54.80
· Key Support: 55.48-54.77
· Key Resistance: 55.7975-56.3350
EURO-INDIA RUPEE (EUR/INR) AUGUST – 68.1000
Bullish over 68.1200 with 69.1000-70.5500 as price target
Bearish below 67.5800 with 67.0900-66.2500 as price target
Neutral Zone: 67.5800-68.1200
BREAK POINT: 67.5800-68.1200
- Eur/inr can rise to 69.100-70.45 as long as it trades over 67.5800.
- Only a daily close below 67.58 for four consecutive days will result in a short term bearish phase to 66.2500-65.5400
- Key support: 67.0975-67.5875
- Key resistances: 69.1025-70.4550
UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 86.5300
Bullish over 86.9400 with 87.5200 and 88.8200 as price target
Bearish below 86.4900 with 85.9820-84.2375 as price target
Neutral Zone: 86.4900-86.9400
BREAK POINT: 86.4950
· Pound needs to trade over 86.4900 for the whole week to target 87.5200 and 88.8225.
· A daily close below 86.4900 will result in a bearish phase to 85.9850-84.2375
· Key support: 85.9850
· Key resistances: 86.9450-87.7575
JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.7100
Bullish over 70.7300 with 71.2300 and 72.2425 as price target
Bearish below 70.1900 with 69.6875 and 67.4625 as price target
Neutral Zone: 70.1900-70.7300
BREAK POINT: - 70.7300
- Yen needs to trade over 70.73 to target 71.37-72.42.
- A daily close below 70.73 for four consecutive days will result in 69.96-69.20
- Key support: 70.19
- Key resistances: 71.2300-72.3925
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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