8th August: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report

Insignia Consultants

New Delhi

Wednesday, August 08, 2012

TIME: 07:20 am IST            

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NSE CURRNCY FUTURES/MCX-SX CURRENCY FUTURES TECHNICAL REPORT

Executive Summary

·         US non farm payrolls at 6:00 pm IST is the key. A weak number will be bullish for gold, silver, copper and crude oil.

·         Today's close will set the direction till early September.

·         Technically gold and silver are mildly bearish

Trading strategy For the very large traders and high risk traders

USD/INR AUGUST: Sell only if it trades below 54.14 for 53.70

EURO/INR AUGUST: Sell only if it trades below 68.5300

GBP/INR AUGUST: Buy only if trades over 86.57 for 86.80

JPY/INR AUGUST: Sell on rise with a stop loss over 70.7300

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) AUGUST – 55.2750

Bullish over 55.5100 with 55.6400-55.9100 as price target

Bearish below 55.2200 with 54.9800-54.6800 as price target

Neutral Zone: 55.2200-55.5100

BREAK POINT: - 55.2200

·         It needs to break 55.5275 else it will fall to 54.5275

·         There will be sellers only below 55.1400

EURO-INDIA RUPEE (EUR/INR) AUGUST – 68.6850

Bullish over 68.5300 with 68.9500-70.5500 as price target

Bearish below 68.1200 with 67.8800-67.5675 as price target

Neutral Zone: 68.1200-68.5300

BREAK POINT: 68.1200-68.5300

• 68.1200 is the key support and euro can rise to 69.07-69.4700 as long as it trades over 68.1200
• There will be sellers only below 68.1200

UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 86.4900

Bullish over 86.5700 with 87.1900 and 87.3600 as price target

Bearish below 86.40 with 86.1800-85.8325 as price target

Neutral Zone: 86.4000-86.5700

BREAK POINT: 86.5775

·         86.5775 is the key resistance and pound needs to trade over 86.5775 to target 87.1925.

·         There will be sellers as long as pound trades below 86.5775

JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.4725

Bullish over 70.7200 with 71.0900 and 71.4425 as price target

Bearish below 70.3100 with 70.0100 and 69.6400 as price target

Neutral Zone: 70.3100-70.7200

BREAK POINT: - 70.5400

• Yen needs to trade over 70.72 today else it will fall to 70.0100 and 69.6400
• There will be sellers only below 70.7200

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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