Tuesday, October 02, 2012

3rd October: NSE currency future trading tips, NSE currency future trading calls, NSE currency future report & MCX-SX report


Insignia Consultants

New Delhi

Wednesday, October 03, 2012

TIME: 07:15 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

Investment in Insurance could have more tax advantages as per the proposal by the government. The fine print is yet to be made public but there are expectations that it will only increase retail investment in Insurance and Insurance related investment products in India. This could attract more foreign investors in India. Basically the government is going all out to ensure a steady flow of foreign exchange into the country and avert currency deprecation like the one we had in April to August of this year. The trend of the rupee is certainly bullish and exporters are using every rise to sell forward their receivables. I will be cautious and will closely watching the political developments as any bad news can result in a rise to Rs.1.00 any time for the Indian rupee against the major currencies.

Trading strategy For the very large traders and high risk traders

USD/INR OCTOBER: Sell only if usd/inr trades below 52.6100

EURO/INR OCTOBER: Sell euro/inr if and only if trades below 67.8425

GBP/INR OCTOBER: Sell gbp/inr if and only if trades below 85.7800

JPY/INR OCTOBER: Sell jpy/inr only if trades below 67.5325

TECHNICAL VIEW

US-DOLLAR – INDIAN RUPEE (USD/INR) OCTOBER – (CURRENT PRICE 52.7925)

Bullish over 53.0500 with 53.1750-53.3900 as price target

Bearish below 52.6100 with 52.3750 and 52.1450 as price target

Neutral Zone: 52.6100-53.0500

BREAK POINT: - 52.6100

·         The key intra day  support is at 52.6100 and usd/inr needs to trade over 52.6100 to target 53.1650-53.40.

·         There will be a technical break below 52.6100 to 52.1450

EURO-INDIA RUPEE (EUR/INR) OCTOBER – (CURRENT PRICE 68.0675)

Bullish over 68.2900 with 68.5650-68.9875 as price target

Bearish below 68.0200 with 67.8425-66.9650 as price target

Neutral Zone: 68.0200-68.2900

BREAK POINT: 67.8425

  • Key support is at 67.8425 and euro/inr needs to trade over 67.8425 to target 68.5650-69.4150.
  • There will be a technical break down below 67.8425 to 66.9650

UK POUND -INDIA RUPEE (GBP/INR) OCTOBER – (CURRENT PRICE 85.1700)

Bullish over 85.2600 with 85.6000 and 86.1525 as price target

Bearish below 84.9225 with 84.5725-83.9425 as price target

Neutral Zone: 84.9225-85.2600

BREAK POINT: 85.2950

·         Cable needs to trade over 85.2950 to target 86.1525

·         Today there will be sellers only below 85.2950 to 84.5725.

·         A daily close below 85.2950 today will be a bearish for gbp/inr in short term.

JAPANESE YEEN -INDIA RUPEE (JPY/INR) OCTOBER – (CURRENT PRICE 67.6725)

Bullish over 67.7425 with 68.0200 and 68.3025 as price target

Bearish below 67.5375 with 67.2650 and 66.9575 as price target

Neutral Zone: 67.5375-67.7425

BREAK POINT: - 67.5375

  • Looks bearish and can fall to 67.4625 and 66.4100 as long as it trades below 67.7425. Only a consolidated break of 67.7425 will result in intra day bullish trend to 68.5325.

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 and employess do not have any open positions. Our clients do trade on the above report.

"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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