BEML --->1 jan 2013

Positional buy: BEML at dips. SL: below 270. TGTs: 291-302-315. Risky players keep SL below 264.

HAPPY NEW YEAR 2013

HAPPY NEW YEAR 2013 MAY THIS YEAR GOD GIVE YOU SUCCESS AND WEALTHY HEALTH.....HAPPY TRADE TRADING TO ALL OF YOU.....

 

CURRENCY VIEW OF 1 JAN 2013

TECHNICAL Impact

USD INR (JAN– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell CMP 55.0000 with a SL 55.1500 possible targets of 54.7500/54.6500/54.5000.

EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.78000 with a SL 72.8800 possible targets of 72.6400/72.5400/72.4000.
OR
Buy above 72.8800 with a SL 72.7800 possible targets of 72.9900/73.0925/73.2000.

Currency Headlines
Dollar falls on Obama’s fiscal deficit deal.
Dollar falls as President Barack Obama said Congress is “close” to a deal to protect all but top earners from a tax increase as part of deal to avert the so-called fiscal cliff which has increased the pressure on their currency. The difference in the number of wagers by hedge funds and other large speculators on a drop in the euro compared with those on a gain, so-called net shorts, was 2,549 on Dec. 25, the least since September 2011, the data showed Dec. 28. The dollar gained 0.2 percent to $1.3193 per euro at 5 p.m. New York time. The U.S. currency appreciated 0.9 percent to 86.75 yen, reaching the strongest since Aug. 2, 2010. The yen lost 0.8 percent to 114.46 per euro.

euro call update---.>26 dec 2012

Euro call given to sell nr 73.09 all target done made low of  72.36

morning currency call update ---> 26 dec 2012

our USDINR call 1st target done of 54.90 made low of 54.8425 call give to sell nr 55.20

REPORT OF FII/INDIAN FOREX RESERVE--26 DEC 2012

Currency Headlines

Yen Declines After Abe Says He May Change BOJ Law GB£
The yen declined toward a 20-month low against the dollar after incoming Japanese Prime Minister Shinzo Abe said he will consider changing the law governing the central bank unless it boosts its inflation target next month.

Japan’s currency fell versus all but one of its major peers on speculation the Bank of Japan will need to step up currency- debasing measures to reach the inflation goal. The dollar weakened versus the euro after rising 0.4 percent on Dec. 21 amid concern that U.S. lawmakers will fail to avert the so- called fiscal cliff of tax increases and spending cuts

Draghi’s Cash Triggers Unprecedented Drop in Bank Lending Stress
European Central Bank President Mario Draghi’s $1.3 trillion of cheap loans and pledge to do whatever it takes to stand behind the euro helped push indicators of stress in the continent’s money markets down by an unprecedented degree this year.

The difference between the euro interbank offered rate and overnight index swaps, a measure of European banks’ reluctance to make unsecured loans to one another known as the Euribor-OIS spread, contracted a record 0.85 percentage point this year to 0.12 percent, according to data compiled by Bloomberg. The Frankfurt-based ECB has lent financial institutions more than 1 trillion euros ($1.3 trillion) under its longer-term refinancing operations since December and is committed to providing cheap, unlimited cash for lenders to boost the economy. Draghi’s pledge to stand behind the currency of the 17- nation euro area in July eased stresses in money markets, where banks fund their day-to-day business











RBI REFERENCE RATE (20-11-12)
 CURRENCY       US$          €URO       GB£            ¥EN
  RATE                 55.0858    72.6164    89.0958       65.29 


INDIAN FOREX RESERVE

TECHNICAL INSIGHT currency--->26 dec 2012

TECHNICAL INSIGHT

USD INR (DEC – Expiry)

USDINR has shown weakness from higher levels. This becomes good “Sell on Rise” candidate.
Sell near 55.20 SL 55.40 for possible TGT of 54.90/54.70/54.50/54.30

EUR INR (DEC – Expiry)
This has remained the strongest pair. Though, it is showing weakness at higher levels. Strong down moves in USDINR can limit the upside in EURINR.
Sell near 73.09 SL 73.20 possible TGT 72.85/72.67/72.54

 GBP INR (DEC – Expiry)
Pound can also face selling pressure from higher levels after too sharp spike up. Can be Sold from higher levels.
Sell near 89.55 SL 89.67 possible TGT 89.41/89.29/88.95

 JPY INR (DEC – Expiry)
Yen takes cues from USDINR, thus this can also be “Sold at Higher levels”
Sell 65.34 SL 65.52 possible TGT 65.19/65/64.81

nifty update 24 dec 2012

NIFTY FUTURE HAVE GOOD SUPPORT 5830-5846
TRADERS CAN THINK FOR THIS LEVEL.

SUPPOSE TO NOT BREAK 5830 BEFORE 1 O'CLOCK...THEN NIFTY FUTURE CAN FIRE 5880-5898 AND 5930

THEREFORE, HEAVY POSSIBILITY TO 5838 AROUND AS MENTION IN CHART OF PAST UPDATED

INTRADAY USDINR--->24 DEC 2012

IF DOLLER SUSTAIN ABOVE 55.15 AND CROSS 55.17 THEN GO FOR BUY TGT 55.26/45/55/67 SL 55
AS MARKET LOOKING VERY CHOPPY SO DO TRADE AS PER WITH CHART IDEA

AND IN EVERY TRADE STOP LOSS IS MUST  !!!!!! IF YOU WANT TO TRADE LONG
TIME IN THE MARKET ELSE NO CAPITAL NO TRADE .....!!!!!!

CURRENCY TECHNICAL CALL-->24 DEC 2012

TECHNICAL INSIGHT     

USD INR (DEC – Expiry)

USDINR is towards strong resistance zone, also the pair has
support on downside. Thus giving opportunity from both sides.
Buy near 54.81 SL 54.65 for possible TGT of 55.05/55.17/55.34
                                      OR
 Sell near 55.45 SL 55.60 for possible TGT of
 55.17/55.05/54.81

EUR INR (DEC – Expiry)
Euro has covered too much up move, in too little time. There are
chances of the pair correcting down from higher levels.
Sell near 73.09 SL 73.20 possible TGT 72.85/72.67/72.54

GBP INR (DEC – Expiry)
Pound can also face selling pressure from higher levels after too
sharp spike up. Can be Sold from higher levels.
Sell near 89.55 SL 89.67 possible TGT 89.41/89.29/88.95

JPY INR (DEC – Expiry)
Yen is getting support at lower levels. The pair often opens “Gap
down” and then recovers during the day. It can be bought at lower
levels.
Take Intraday Call, after watching USDINR movement
during 1
st
hour of the trade.