Insignia Consultants
New Delhi
Thursday, June 28, 2012
TIME 10:02 AM IST
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US DOLLAR – INDIAN RUPEE REPORT (ONLY FOR EXPORTERS AND IMPORTERS)
Markets are just waiting for news on the direction of rupee. There is hope that new measures to attract more foreign funds will come up in July. The momentum as well as the sentiment is bearish. Monsoon is expected to hit north India and North West India after 7th July and after that there is no certainty about the rains. The next three weeks could be crucial for monsoon rains and if monsoon rains does not hit north India and central India then a drought will be declared. Prices of essential commodities will zoom. A bad monsoon will prolong the negative sentiment on the rupee.
Exporters use a stop loss of 56.88 while importers use a stop loss of 57.62 for their near term receivables and pyables.
| DAILY TECHNICAL ANALYSIS | |||||
| Thursday, June 28, 2012 | |||||
|
| LTP | % CHG | 50 DAY MA | 100 DAY MA | 200 DAY MA |
| USD/INR |
|
|
|
| |
| SPOT | 57.0650 | 0.33 | 54.7298 | 52.5099 | 51.5797 |
| 1 MTH | 36.25 | -3.33 | 34.81 | 36.49 | 33.30 |
| 2 MTH | 73.00 | -0.68 | 66.88 | 69.95 | 62.92 |
| 3 MTH | 103.50 | 0.49 | 96.81 | 99.68 | 88.99 |
| 6 MTH | 183.75 | -0.41 | 170.73 | 175.57 | 154.14 |
| 9 MTH | 260.25 | 1.07 | 235.65 | 241.73 | 207.82 |
| 12 MTH | 332.00 | 0.45 | 299.46 | 303.52 | 255.26 |
Technically speaking: Rupee can rise to 57.45 as long as it trades over 56.90.
NSE CURRENCY USD/INR JULY CMP 57.3100
Bullish over 57.2650 with 57.43 and 57.67 as price target
Bearish below 57.1200 with 57.02-56.6800 as price target
Neutral Zone: 56.9750-56.7900
BREAK POINT: - 57.26
· Rupee needs to break 57.48 else it will trade in 57.00-57.46 range
· There will be sellers only below 57.25
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.
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 IN INDIAN RUPEES UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES ON THE TRADING CALLS GIVEN IN THIS REPORT
USD/INR: 0.07-1.012
EURO/INR: 0.20-0.30
GBP/INR: 0.20-0.30
JPY/INR: 0.15-0.20
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