Havells---->2nd jan 2013

Prices today closed above the Neckline as well as recent resistance zone of 629 level that too with
volumes. This close above such neckline level is breakout of an Inverted Head N Shoulder Pattern with
upward target of 45points above such level. Counter trading above 200DMa level too. Now enter on
retracements.
BUY till above 630 Level with Stop below the Support Levels, mentioned below. Book Profit near
resistance zones mentioned, below.

Target will be 642/49/54/62

CURRENCY TECHNICAL--->2 JAN 2013

Currency Headlines
Dollar Weakens as Obama Says Deficit Deal Is Close
The dollar fell against most of its biggest peers 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.
The South Korean won has appreciated the most versus the dollar this quarter, adding 4.4 percent. The Norwegian krone has been the second-biggest gainer, increasing 2.9 percent. The South African rand leads all major currencies this month against the greenback, appreciating 5.1 percent. The White House and congressional negotiators agreed to contours of a budget deal including tax cut extensions, with the remaining sticking point being how to avert automatic federal spending cuts, said an official familiar with the talks.
Canadian Dollar Gains on Optimism U.S. May Reach Deal

The Canadian dollar gained for the first time in four days versus its U.S. counterpart as U.S. President Barack Obama said congressional leaders were “close” to a deficit-reduction deal to avoid tipping the nation’s largest trading partner into recession.

Canada’s currency rose against the majority of its 16 most- traded peers as Obama said a deal to avert a recession from legislated austerity measures was “within sight.” The currency had the biggest intraday jump in a month after Bloomberg News reported a tentative accord that would allow taxes to go up on families earning more than $450,000 a year and extend unemployment benefits for one year.

“It looks increasingly like there’s a deal that’s on the table,” David Doyle, a strategist at Macquarie Capital Markets, said by phone from Toronto. “Doubtful it gets voted on by both houses before the day is out, but I think it’ll be constructive that the deal has been agreed to, and I think you’ve seen that across the board, with most risk assets responding positively.”

The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, appreciated 0.5 percent to 99.21 cents per U.S. dollar at 5:11 p.m. in Toronto, its largest intraday gain since Nov. 23. One Canadian dollar buys $1.0080.

TECHNICAL INSIGHT
USD INR (Jan 13 – Expiry)
USDINR is facing selling pressure as it tries to move up. It can be SOLD at higher levels.
Sell near 55.25 SL 55.45 for possible TGT of 55.05/54.80/54.60

EUR INR (Jan 13– Expiry)
Weakness in EURUSD can be felt in EURINR also. It’s prudent to look for rise to sell.
Sell near 73.07 SL 73.21 possible TGT 72.96/72.78

 GBP INR (Jan 13 – Expiry)
Pound can also be looked to Sell at higher levels.
Sell near 89.48 SL 89.60 possible TGT 89.25/89.06 

JPY INR (Jan 13 – Expiry)
Yen takes cues from USDINR.
Prudent strategy will be watch for 1st hour of trade, then take position, in direction of USDINR.

GMDC---> 1 JAN 2013

GMDC Ltd - Strong Earning Potential
In this tight economic condition where companies are struggling to maintain their bottom line; GMDC has showed strong earning potential by paying higher advance tax for year 2012-13. Gujarat Mineral Development Corporation Ltd (GMDC), which has paid Rs 184 crore as advance

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