Monday, September 03, 2012

4th September: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report


Insignia Consultants

New Delhi

Tuesday, September 04, 2012

TIME: 08:50 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

Global factors will dictate rupee more than Indian domestic factors. There is speculation that the UPA ruling coalition may post pone the "general anti avoidance rule (GAAR)" beyond the next general elections. Any postponement of GAAR will result in rupee (usd/inr) falling to 54.50 and 53.00 (Inter bank) before the close of the year. There will be huge foreign portfolio flows and foreign direct investment which have been on the sidelines due to GAAR. In the next fortnight there will be clear picture on the distribution of monsoon rain in India and its affect on crop production which will effect inflation.

Trading strategy For the very large traders and high risk traders

USD/INR SEPTEMBER: Buy only if it usd/inr trades over 55.6800 for 55.5400-55.3200

EURO/INR SEPTEMBER: Sell only if euro/inr trades below 69.9800 for 69.8400-69.5200

GBP/INR SEPTEMBER: Buy only if gbp/inr trades below 88.5700 for 88.95

JPY/INR SEPTEMBER: sell only if yen/inr trades below 71.0200

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) SEPTEMBER – (CURRENT PRICE 55.7200)

Bullish over 55.7700 with 56.0250-56.2550 as price target

Bearish below 55.6200 with 55.4950 and 55.3200 as price target

Neutral Zone: 55.6200-55.7700

BREAK POINT: - 55.7200

·         55.72 is the key intra day support and rupee needs to trade over 55.72 for 56.00. A consolidated fall below 55.72 will result in 55.5200-55.3700

·         There will be sellers only below 55.7200.

 

EURO-INDIA RUPEE (EUR/INR) SEPTEMBER – (CURRENT PRICE 70.0150)

Bullish over 69.8575 with 70.2225-70.4775 as price target

Bearish below 69.7850 with 69.6925-69.4850 as price target

Neutral Zone: 69.7850-69.8575

BREAK POINT: 70.1700

  • Euro/inr can rise to 70.57-70.97 as long as it trades over 69.92
  • There will be sellers only below 69.9200

UK POUND -INDIA RUPEE (GBP/INR) SEPTEMBER – (CURRENT PRICE 88.4550)

Bullish over 88.3750 with 88.7125 and 88.9500 as price target

Bearish below 88.2500 with 88.0950-87.8900 as price target

Neutral Zone: 87.2500-88.3700

BREAK POINT: 88.52

·         Pound/Inr can rise to 88.8325-89.90 in short term as long as it trades over 88.2100

·         There will be sellers only below 88.2100

JAPANESE YEEN -INDIA RUPEE (JPY/INR) SEPTEMBER – (CURRENT PRICE 71.0875)

Bullish over 70.88 with 71.3700 and 71.6200 as price target

Bearish below 70.67 with 70.4950 and 70.3700 as price target

Neutral Zone: 70.6700-70.88

BREAK POINT: - 71.12

  • Yen needs to trade over 71.12 to target 71.37-71.72
  • There will be sellers only below 71.0250

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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