Insignia Consultants
New Delhi
Tuesday, September 25, 2012
TIME: 08:40 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
Rupee can weaken to 54.00 and 54.50 (inter-bank rates) if the USD dollar continues to gain. Technically usd/inr has bottomed out and should weaken. There will be US dollar demand at lower prices if rupee trades over 53.10 for the rest of the week. Month end demand and quarter end demand will prevent big gains for the rupee.
Trading strategy For the very large traders and high risk traders
USD/INR SEPTEMBER: Sell on rise with a stop loss over 54.12 till September future close.
EURO/INR SEPTEMBER: Buy only if eur/inr trades over 69.3175 for 69.5625-69.7650
GBP/INR SEPTEMBER: Buy gbp/inr as near to 86.00 stop loss 85.86 for tomorrow
JPY/INR SEPTEMBER: Buy as near to 68.00 stop loss 67.70 for 68.7525
TECHNICAL VIEW
US-DOLLAR – INDIAN RUPEE (USD/INR) SEPTEMBER – (CURRENT PRICE 54.4775)
Bullish over 53.4200 with 53.7625-54.1200 as price target
Bearish below 53.2525 with 53.1350 and 52.8600 as price target
Neutral Zone: 53.2525-53.4200
BREAK POINT: - 53.4200
· Rupee can weaken to 54.1200 as long as it trades over 53.2525.
· It remains to be see whether 53.1325 holds or not
EURO-INDIA RUPEE (EUR/INR) SEPTEMBER – (CURRENT PRICE 69.0725)
Bullish over 69.3175 with 70.1500-71.5125 as price target
Bearish below 68.8600 with 68.1950-67.6025 as price target
Neutral Zone: 68.8600-69.3175
BREAK POINT: 69.4150
- 68.8600 is the key support. There will be a technical break down only below 68.8600 to 67.1600
- On the higher euro/inr needs to trade over 69.3150 to be in bullish zone and target 70.1200-70.1500
UK POUND -INDIA RUPEE (GBP/INR) SEPTEMBER – (CURRENT PRICE 86.6300)
Bullish over 87.0100 with 87.6950 and 88.0200 as price target
Bearish below 86.6825 with 86.0325-85.1700 as price target
Neutral Zone: 86.6825-87.0100
BREAK POINT: 86.6825
· Pound/Inr needs to trade over 86.6825 for 87.2725
· Another wave of selling will be there only below 86.6825 to 86.0300-85.3800
JAPANESE YEEN -INDIA RUPEE (JPY/INR) SEPTEMBER – (CURRENT PRICE 68.4725)
Bullish over 69.0100 with 69.4725 and 69.9725 as price target
Bearish below 68.7325 with 68.1225 and 67.7425 as price target
Neutral Zone: 68.7325-69.0100
BREAK POINT: - 67.7425
- Key long term support is at 67.5300 and as long as yen/inr (October futures) trades over 67.5300 it will rise to 69.00
- Intra day Yen/inr needs to 68.6325 else it will fall to 68.1425-67.5300
- There will be buyers only if yen/inr trades over 68.6325
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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