Insignia Consultants
New Delhi
Thursday, August 09, 2012
TIME: 08:31 am IST
------------------------------------------------------------------------------------------------------------------------------------------------
Executive Summary
- Tomorrow Currency markets are closed.
- There will be position squaring and rebuilding for next week.
- If demand from state run oil companies continues today then rupee can rise to 55.80-56.10 against the US dollar.
NSE CURRNCY FUTURES/MCX-SX CURRENCY FUTURES TECHNICAL REPORT
Trading strategy For the very large traders and high risk traders
USD/INR AUGUST: use a sell on rise strategy as long as rupee des not break 55.80-56.00 with a price target of 55.31-55.15
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 – 55.4750
Bullish over 55.3600 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: - 55.5100
· Usd/Inr can rise to 55.65-55.95 on a break of 55.51
· There will be sellers if rupee trades below 55.51
· We prefer to sell only if rupee trades below 55.51
EURO-INDIA RUPEE (EUR/INR) AUGUST – 68.5525
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
- 68.53 is the intra day support and euro can rise to 68.87-69.12 as long as it trades over 68.5300
- There will be sellers only below 68.5300
UK POUND -INDIA RUPEE (GBP/INR) AUGUST – 86.7625
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
· Pound can rise to 87.05-87.16 as long as it trades over 86.54
· There will be buyers on dips as long as pound trades over 86.30
JAPANESE YEEN -INDIA RUPEE (JPY/INR) AUGUST – 70.7450
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
Customer care: 9311139549
You can also mail your queries at insigniaforex@yahoo.com
Chat Id: insigniaconsultants@gmail.com (gtalk), insigniaforex@yahoo.com (yahoo)
(10:30 am to 5:30 pm Indian time, Monday to Friday)
No comments:
Post a Comment