Thursday, August 23, 2012

24th August: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report


Insignia Consultants

New Delhi

Friday, August 24, 2012

TIME: 09:30 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

Indian rupee should take cues from developments in Europe and performance of Indian stock markets. There will be demand as bank employees strikes are over. The demand for the last two days will be today which will prevent rupee from a major fall against the major currencies.

Trading strategy For the very large traders and high risk traders

USD/INR AUGUST: Buy on dips with a stop loss below 55.08

EURO/INR AUGUST: Sell on rise with a stop loss of over 70.23

GBP/INR AUGUST: Buy on dips with a stop loss below 87.52 and target of 88.15. If the stop loss is hit then sell 87.20-86..80

JPY/INR AUGUST: Sell only if yen/inr trades below 70.30

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) AUGUST – 55.4050

Bullish over 55.2575 with 55.66-55.86 as price target

Bearish below 55.1300 with 55.0250 and 54.8850 as price target

Neutral Zone: 55.1300-55.2575

BREAK POINT: - 55.3525

·         Usd/inr has managed to trade over 55.13 yesterday and can rise to 55.5575-55.7225

·         A daily close below 55.2575 will be bearish for usd/inr next week.

EURO-INDIA RUPEE (EUR/INR) AUGUST – 69.5550

Bullish over 69.3250 with 69.69-69.9500 as price target

Bearish below 69.1900 with 68.9825-68.4500 as price target

Neutral Zone: 69.1900-69.3250

BREAK POINT: 69.4750

  • 69.4750 is the key support and euro needs to trade over 69.4750 to target 69.95-70.35
  • There will be another wave of selling only below 69.4750

UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 87.8075

Bullish over 87.5200 with 87.9250 and 88.2500 as price target

Bearish below 87.3700 with 87.1650-87.0200 as price target

Neutral Zone: 87.3700-87.5200

BREAK POINT: 87.6200

·         Pound/Inr can rise to 88.02-88.25 as long as it trades over 87.6200

·         There will be sellers only below 87.6200

JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.3900

Bullish over 70.27 with 70.5500 and 71.1225 as price target

Bearish below 70.1200 with 69.9850 and 69.7600 as price target

Neutral Zone: 70.1200-70.2700

BREAK POINT: - 70.4200

  • Yen can rise to 70.71-71.25 as long as it trades over 70.1900.
  • There will be sellers below 70.1900

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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