curerency update ---->10 dec 2012

currency update

1st target achieved of usd cmp 54.7475 call given @ 54.50 now if sustain above 54.75 next level 
is 54.85/54.95/55.11 

currency call--->10 dec 2012

USD INR (DEC– Expiry)
US dollar is looking strong on charts hence buying is recommended in USD.
Buy CMP 54.5000 with a SL 54.3500 possible targets of 54.7500/54.9000/55.1000.

NIFTY FUTURE --->10 DEC 2012

NIFTY FUTURE--------->
Friday mentioned break below 5958 expect slide

up to 5935 and support at 5926.

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Nifty fut made low at 5922 and closed at 5944.90

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Now for Today…………

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5960-5966 hurdle zone.

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Crossover 5974 with sustained vol and price may

take Nifty fut at 5989-6008.

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5931-5922 intraday support zone.

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break below will drag NF up to 5892-5884.

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closing below 5876 may take NF lower up to 5809-5796.

PFC--->10 dec 2012

PFC Stock future Updated on 10-12-2012
PFC – Stock future is trading 203-205 where as seen lots of resistance signs. As seen in chart, selling can start 207.5 to 211. for Short term traders, 206 is starting area of selling. Just watch daily chart of PFC stock future.

Look at, You will see also moving signal of buys and sells, but you need patience for exact entry of selling on PFC. In the coming days, you will get good opportunity to earn money on PFC stock.

market view------10 dec 2012

Nifty futures opened almost flat and traded with mild bearish bias throughout the session, and finally closed at 5945.
Overall breadth was negative as there were 43 advances vs. 114 declines in F&O segment.
Volatility may be seen in marketin the coming week. Supports for nifty futures lies at 5865 and resistance on upside lies at 5985 levels.
Among other major sectoral indices, Banknifty future closed with loss of 0.68% while CNX IT futures have closed with loss of 1.35%.
Among Nifty heavy weight stocks Infy, Tcs and Tatasteel has witnessed short build-up in trade today.
Put Call Ratio (Volume) is at 0.86.
Mcleadrussel, Jublfood, Tataglobal and Jswenergy stock futures witnessed maximum percentage gain in volumes.

Currency Headlines----->10 dec 2012

Currency Headlines
Dollar advances as the U.S job markets gains.
Dollar might travel in bullish boat as the U.S employment has shown strength in their economy which has supported their currency as well. U.S. employers added more jobs than forecast last month and the unemployment rate dropped to an almost four-year low. The dollar rose 0.3 percent to $1.2927 per euro in New York, reaching $1.2877 the highest since Nov. 23. It was 0.1 percent stronger at 82.49 per yen after gaining as much as 0.5 percent. The euro fell 0.2 percent to 106.67 yen. The peso rose 0.2 percent to 12.8505 per U.S. dollar. The currency has strengthened 8.4 percent this year through yesterday

Asian currencies fell on U.S economic weakness.
Asian currencies were unable to sustain the 15 month’s high levels as the U.S economic weakness is receding the demand of the high yield assets. U.S fiscal cliff problem has started acting as a resistance for Asian assets. The ringgit weakened 0.4 percent this week to 3.0508 per dollar. Indonesia’s rupiah fell 0.3 percent to 9,625 and the Philippine peso declined 0.1 percent to 40.933. India’s rupee advanced 0.2 percent to 54.1375 after lawmakers endorsed a plan to open the market to foreign retailers. China’s yuan was little changed at 6.2301 per dollar versus 6.2300 a week ago, according to China Foreign Exchange Trade System. Thailand’s baht traded at 30.67 per dollar, little changed from 30.69 on Nov. 30. South Korea’s won gained less than 0.1 percent to 1,082.40 and Taiwan’s dollar climbed 0.2 percent to NT$29.06.

TECHNICAL INSIGHT USD INR (DEC – Expiry)
US dollar looking strong on charts, hence buying is recommended.
Buy above 54.7400 with a SL 54.6300 possible targets of
54.8600/54.9600/55.1100.

EUR INR (DEC – Expiry)
Euro is technically strong, hence buying is recommended.
Buy above 70.6500 with a SL of 70.5700 for possible targets of 70.7800/70.9000/70.9900.

JPY INR (DEC – Expiry)
Yen looking strong on charts, hence buying is recommended.
Buy above 66.3800 with SL of 66.2600 with possible targets of 66.5100/66.6150/66.7600. 


GBP INR (DEC – Expiry)
Pound is looking strong hence buying is recommended.
Buy above 87.6525 with a SL of 87.5500 targets would be 87.8000/87.9700/88.1000.

Market outlook and calls---10 dec 2012

Market Outlook:

The markets ended in red after a volatile session. Buying was seen in Auto sector while Banking and Metal sectors witnessed selling pressure.  

Nifty:      

Nifty traded within a tight range amid high volatility and ended in red.  The daily chart of Nifty suggests that a negative divergence and markets might witness some profit booking taking place around this level. Support is seen at 5880/5850 and a close below this level will further drift Nifty lower to test 5780/5750 levels. Resistance is seen at 5950.  

Trading Ideas

Positive bias - JP Associates (Target 120), KTK Bank (Target 210) & Jet Airways (Target 625). Traders maintain stop loss accordingly.

Investment Ideas

Dhanuka Agritech @ Rs. 132 (Target Price: Rs. 150)

Weekly Insight – Metal & Energy-->10 dec 2012

Weekly Insight – Metal & Energy
Gold has got the strength of the receding European Union growth rate which has increased the demand of the safe haven assets. Major market players are anticipating that the bull cycle has ended in bullions which have given bearish temperament to the market, however weakness in European economy has given support to the safe haven demand. Crude oil has discounted the speculation of the possible rate cut news of the European Union which is receding the demand of fuel. However U.S crude oil inventory has started falling which is the only bullish factor for crude oil prices. Red metal is has lost the strength around the current levels as the Chinese demand is the biggest bullish factor for red metal prices. U.S might also start buying as their economy might recover from the recent downturn and can give a solid support to the base metals.


GOLD (MCX Closing Price: 31326): Gold has brought cheers to the investors in the end of the trading week as the demand of the safe haven assets have zoomed up. EU policy makers have confirmed weakness in their economy and according to ECB President Mario Draghi, the euro area will probably contract 0.5 percent this year, worse than the September forecast of 0.4 percent which has painted bullish picture for safe haven assets. Buy gold around 31200 with a stop loss of 31080 and targets can be expected around 31440/31550.


SILVER (MCX Closing Price: 62582): Silver is in the making of the double top pattern on daily charts which is bearish below the neckline of 61000. However strengthening industrial demand might support silver for short term. Silver is not willing to go down which is a bullish indicator as well hence buy above 62700 with a stop loss of 62380 and targets can be expected around 63160.


COPPER (MCX Closing Price: 444.30): Copper is unable to sustain its recent high levels which is indicating selling in red metal. Chinese strengthening economy is unable to support the red metal prices as the European Debt crisis has countered the news of strengthening Chinese economy. Global capital markets have started showing weakness which is another bearish factor red metal prices. Copper has a solid support of 438.00 hence sell below this level with a stop loss of 442.00 and targets can be expected around 433.40/430.80.





CRUDE (MCX Closing Price: 4695): Crude oil is another bear commodity as it has 100 points downfall left on receding global economic demand. However receding U.S crude oil inventories is the only bullish factor for it. Crude oil has a solid support around 4610 hence long term buying is suggested around these levels. Sell crude oil below 4675 stop loss 4710 targets can be around 4620.





NICKEL (MCX Closing Price: 938.50): Nickel markets are trading in surplus which is a bearish factor for nickel prices. Global nickel market was in surplus during January to September 2012 with production exceeding apparent demand by 89 kilo tons which has.

currency weekly update---10 dec 2012

Currency Weekly 

U.S government is showing hope of recovery as the U.S. employers added more jobs than forecast last month and the unemployment rate dropped to an almost four-year low which might increase the demand of dollar. European Central Bank is indicating weakness is their economy might persist which is a bullish factor for U.S dollar. Indian government might come up with huge reforms in coming years as this year budget would be the last before 2014 elections which might support the Indian capital markets. However Indian GDP and industrial manufacturing figures are in bad shape which can increase the pressure on their currency.

1st Week, November 2012

03 Dec: Close 55.18 – U.S manufacturing has shown weakness which was reflected on their currency as well.

04 Dec: Close 55.14 – The FDI voting in retail sector was a key support to the Indian currency.

05 Dec: Close 55.02 – Indian government got the parliamentary approval of FDI in retail sector which has given support to Indian currency.

06 Dec: Close 54.55 – FDI approval in Indian retail sector was too much for the market to rally despite of improving US employment figures.

07 Dec: Close 54.97 – Improvement in the U.S job markets farm and non - farm which has given support to their currency.

2nd Week, December 2012

10 Dec: Indian markets will remain in bullish trend in the coming year hence going short in USDINR on rise can be the strategy for the coming year.....

11 Dec: U.S fiscal cliff will remain a major problem for the government which can transfer weakness to their currency as well. USDINR is expected to break the level of 54…….

12 Dec: 12 and 13 December can be the volatility day of the month as U.S and India will come out with major events hence buy OTM call and put can be the strategy of the week.......

13 Dec: India is coming out with Industrial figures. FOMC meet and budget balance can be the market driver .....

14 Dec: India will be showing its inflation figures which are expected to fall. However USDINR will is expected to hover in 53.50-54.50 range.......Currency Weekly