Insignia Consultants
New Delhi
Thursday, August 02, 2012
TIME 08:38 AM IST
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COMMENTARY ON NSE CURERNCY FUTURES
US DOLLAR-INDIAN RUPEE AUGUST 2012
55.87 is the key resistance and a break of the same will result in 56.02-56.25. On the lower side 55.58 is the key intra day support and there will be another wave of selling below 55.58 to 55.27-55.02
We prefer to use a sell on rise strategy till rupee does not break 56.35 with a price target of 55.48-55.25
EURO – INDIAN RUPEE AUGUST 2012
Eur/Inr can rise to 68.80 and 67.02 as long as it trades over 68.48. There will be sellers only below 68.40
We prefer to sell only if euro trades below 68.50 for 68.25-68.10
BRITISH POUND-INDIAN RUPEE AUGUST 2012
Pound can fall to 86.98-86.65 as long as it trades below 87.25. Its in a neutral zone as it needs to trade over 87.25for further 87.65-88.60
We prefer to watch 87.12 and sell only if pound trades below 87.12
JAPANESE YEN-INDIAN RUPEE AUGUST 2012
71.30 is the key support and yen can rise to 71.97-72.27 as long as it trades over 71.30. There will be sellers only below 71.30
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
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