TECHNICAL VIEW

TECHNICAL  VIEW

USD INR (Jan 13 – Expiry)
Buy USDINR @53.70 target 53.85/95/98/54.01 sl 53.65
The down move has been very sharp. The trend remains weak. But the chances are of "Gap Up" OR "Gap Down" openings.
We are not recommending any trade Pre-Open for today due to very high volatility expectations, when market opens.

EUR INR (Jan 13– Expiry)
EURUSD seems in strong uptrend. However, the bearish sentiments in USDINR will impact EURINR also.
Positions can be taken, once USDINR settles for a trend after 1st hour of trade.

GBP INR (Jan 13 – Expiry)
GBPINR is in weak trend. Let the initial dust get settle, then initiate any trade.

JPY INR (Jan 13 – Expiry)
JPYINR remains the weakest of 4 pairs. But given the very High “Beta” and it has gap Up OR Gap Down opening. Its moves are directly impacted by USDINR trend

ITC Ltd news

KOLKATA: Cigarettes-to-hotels conglomerate ITC LtdBSE 0.67 % said third-quarter net profit jumped 20.6 per cent year-on-year to Rs 2,051.85 crore on the back of strong growth in its FMCG and agricultural businesses.

ITC said on Friday net sales for the quarter-ended December rose 23.1 per cent from a year ago to Rs 7,627.07 crore. Net sales from its FMCG business grew 30 per cent while revenue from its agri-business was up 43 per cent.

Investors cheered the news, pushing ITC's shares up to Rs 289.7 in intra-day trade on the Bombay Stock Exchange on Friday. The scrip closed 0.67 per cent higher at Rs 287.05.

"The FMCG business and agribusiness is going to drive ITC's growth next quarter as well, since we do not expect any significant improvement in the cigarette business volume or the hotel business," said Kaustubh Pawaskar, research analyst
Revenue of the company's flagship cigarette business grew by more than 13 per cent to Rs 3,657.36 crore, despite a steep hike in taxation, which has led to 10-17 per cent increase in cigarette prices over the last two quarters.

In volume terms, ITC's cigarette business grew by 1.25 per cent, according to Religare Institutional Research.

Sharekhan's Pawaskar attributed the growth in revenue from the cigarette segment to the price hike and ruled out any significant jump in volumes in the next quarter.

ITC said its sub-65 mm cigarettes, launched to fight illegal trade and offer an entry-level pricing, has received favorable response and the company is now planning a nationwide rollout.

Net sales of the company's noncigarette FMCG business, which comprises packaged food and personal-care products, grew 30 per cent to Rs 1,782.70 crore. The segment reduced losses by 50 per cent to Rs 23.98 crore during the quarter.

ITC said sales growth of its packaged food business was led by its biscuit brand Sunfeast, Sunfeast Yippee! noodles and Bingo! range of snacks.

In personal care, the company strengthened its presence in soaps with a premium range and also launched newer products in the deodorants, body lotion, hand moisturiser and skin toner segments.

However, ITC's hotel business failed to make a significant recovery during the quarter. The company attributed this to the continuing weakness in the domestic and global economy and a significant addition of rooms in several markets.

Sales in this segment grew 11 per cent to Rs 309.46 crore, while profitability was down 45 per cent to Rs 55.49 crore.

Relaince Industries news--> 19 jan 2013

                                     



                                                                                                                                                                                              
India's largest company by market value Reliance IndustriesBSE 1.05 % could well see renewed interest from investors soon after a sustained period when the stock was languishing after the company cut back on its gas production and analysts were skeptical about its earnings growth. Its results for the quarter to December 2012 exceeded analysts expectations by a wide margin, powered by its refining business .
At Rs 5,502 crore, RIL's net profit in the third quarter was its third-best ever. That, too, when there has been an overall weakness in refining margins for the December quarter. RILBSE 1.05 % went on to post its highest-ever profits from this segment at Rs 3,615 crore. The gross refining margin was an impressive $9.6 per barrel. This not only bettered its year-ago number of $6.8, which was on expected lines, but also beat its September 2012 quarter number of $9.5, when most analysts had pegged their forecasts between $8.5 and $9 for the quarter.
In comparison, the performance of its two other major segments — petrochemicals and oil and gas — were dismal, just in line with market expectations. The petrochemicals segment faced margin pressure and posted a lower profit of 10% inspite of a 11% spurt in revenues. But the declining natural gas production from KG-D 6 led to a 32% drop in revenues and 54% drop in profits from the oil and gas segment.
The quarter was also marked by a reduced importance of other income in the overall profit of the company. From an average of 33% of pre-tax profits in the April-September 2012 period, the proportion of other income has dropped to 25%. A reduced tax provisioning at 19.7% of pre-tax profit compared to 22.6% in the year-ago period also contributed to the stellar performance.
RIL was also debt-free at end December 2012, with cash of . 80,962 crore, way higher than its Rs 72,266-crore debt. This despite using Rs 3,085 crore of cash for its share buyback programme. Analysts are not certain if this performance can be sustained.
For RIL's investors, the 24% y-o-y jump in net profit is a welcome breather after a fall in profits for the last four consecutive quarters. The December quarter show may well be the trigger for renewed investor interest in the company.

currency call update of 18 jan 2013

our currency usd sell call given @54.03 made low of 53.8225
20++ paisa profit  in intraday only

&

EURO sell call all target done, call given @72.23 made low 71.85
38++ paisa profit in intraday only


Total profit 58 paisa .

Example : If trade in only 10 lots in both USDINR & EURO  =>

USDINR => 10 lot *20 paisa =Rs. 2000 /-
EUROINR => 10 lot *38 paisa = Rs. 3800/-

                                                         TOTAL PROFIT =2000+3800 
                                                                                        =RS. 5800/-

TECHNICAL CURRENCY VIEW FOR INTRADAY

TECHNICAL Impact
USD INR (JAN– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 54.0300 with a SL 54.1700 possible targets of 53.6700/53.5500/53.4300.

EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.2325 with a SL 72.3300 possible targets of 72.1200/72.1025/71.9200.
OR
Buy above 72.3300 with a SL 72.2325 possible targets of 72.4325/72.5700/72.7000.

Currency Headlines
Yen is gathering momentum before BOJ meet.
Yen is gathering momentum for an either side movement before Bank of Japan meet which might come up with strict reform to support their tumbling economy. One-week implied volatility on the dollar-yen rate, derived from option premiums, reached 16.9 percent, the highest since August 2011. It jumped 26 basis points to 16.54 percent. The yen touched 90.21 per dollar, the weakest since June 23, 2010, before trading at 89.93, 0.1 percent below the close yesterday. It sank as much as 0.4 percent to 120.71 per euro, the lowest since May 4, 2011. The European currency was at $1.3381 after climbing 0.7 percent to $1.3376.

Nifty view today-->18 jan 2013

Among Nifty options data of Jan series, maximum buildup among call strikes is witnessed at 6200 levels, which may act as resistance.
Nifty Jan 6000 Put strike witnessed short build-up.
Among Nifty Jan series options, short covering witnessed in 6000 & 6100 Call strike, while put writing is witnessed at 5800 strike.
Technology sector was up by 1.8% as stocks HCLTECH, INFY, TECHM & WIPRO witnessed long build-up.
Oil & Gas sector was up by 2.1%, long build-up witnessed in BPCL, HINDPETRO, IOC, ONGC & RELIANCE.
Automobile, Cement, Oil & Gas, Technology and Telecom sector witnessed maximum OI action.

Currency Headlines--->18 jan 2013

Currency Headlines
Euro Advances as Spain Sells Government Bonds While Yen Weakens
The euro advanced toward a 10-month high against the dollar as Spain’s borrowing costs fell at a 4.5 billion-euro ($6 billion) sale of bonds, underscoring demand for the region’s higher-yielding assets.

Europe’s shared currency climbed against all 16 of its major peers amid signs investors are returning to markets they deserted in 2012, with foreign investors buying more than 60 percent of the debt Italy sold two days ago. The yen fell after Economy Minister Akira Amari said his comments earlier this week that excessive weakening of the yen was harmful had been misinterpreted.

The euro appreciated 1.7 percent to 119.48 yen. Japan’s currency declined 1.1 percent to 89.36 per dollar.
Spain sold 2.409 billion euros of 3.75 percent 2015 notes at an average yield of 2.713 percent, down from 3.358 percent at the previous sale in December. It also auctioned securities maturing in 2018 and 2041 at lower yields.

Pound Falls to Nine-Month Low Versus Euro on Economic Outlook
The pound weakened to a nine-month low against the euro as investors favored assets in the 17- member currency region, betting the struggling U.K. economy will weigh on sterling.
Gilts fell for the first time in five days as the Debt Management Office sold 1 billion pounds ($1.6 billion) of inflation-linked securities maturing in 2029. The yield on U.K. 10-year index-linked gilts climbed from a record low. Bank of England policy makers held their target for bond purchases at 375 billion pounds last week. The central bank will publish new forecasts for growth and inflation next month that will inform their February decision.

Sterling depreciated 0.5 percent to 83.41 pence per euro at 11:44 a.m. London time, after reaching 83.46 pence, the weakest since April 3. The pound rose 0.2 percent to $1.6032, after dropping to $1.5976 yesterday, the least since Nov. 28.
The 10-year gilt yield climbed four basis points, or 0.04 percentage point, to 2.04 percent after falling to 1.98 percent yesterday, the lowest level since Jan. 3. The 1.75 percent securities maturing in September 2022 dropped 0.35, or 3.50 pounds per 1,000-pound face amount, to 97.485.

TECHNICAL INSIGHT
USD INR (Jan 13 – Expiry)
USDINR has shown weakness, as the pair broke 54.55 support. Though at lower level below 54.30, buying was seen. 17 Jan low of 54.26, is crucial support.
Sell near 54.85 SL 55 TGT 54.65/54.45/54.30 OR Buy near 54.30 SL 54.15 TGT 54.45/54.65/54.85

EUR INR (Jan 13– Expiry)
EURUSD seems in strong uptrend. However, the pressure of USDINR is seen on EURINR.
Sell near 72.98 SL 73.15 TGT 72.72/72.41 OR Buy near 72.28 SL 72.09 TGT 72.52/72.86/72.98

GBP INR (Jan 13 – Expiry)
GBPINR saw sharp slide. Though, some recovery was seen from lower levels. It remains under performer, among Western currencies.
Sell near 87.55 SL 87.70 TGT 87.25/87.02/86.75

JPY INR (Jan 13 – Expiry)
JPYINR remains the weakest of 4 pairs. But given the very High “Beta” and it has gap Up OR Gap Down opening.

currency call update of 17 jan 2013

our call of USDINR sell, all target done call given @54.80 made low 54.2675 intraday 50+++ paisa profit .

EXAMPLE :if work on 10 lot only then today's profit would be 5000 in a day.

EURO--sell call given @ 72.6175 almost all target done made low of 72.4150

EXAMPLE : if work on 10 lot only then today's profit would be 2000 in a day

TODAY'S CURRENCY SEGMENT PROFIT IS 70 PAISA

Market Commentary-->17 jan 2013

Market Commentary
Oil Rises as U.S. Inventories Unexpectedly Decrease.
Oil rose in New York on an unexpected drop in U.S. inventories as imports declined for the fourth time in five weeks and petroleum consumption increased. Prices gained as much as 1.2 percent after the Energy Information Administration, the Energy Department’s statistical arm, said stockpiles fell 951,000 barrels last week. They were expected to climb 2.2 million barrels, according to the median of 11 analyst estimates in a Bloomberg survey. Consumption rebounded from the lowest level since March. “The drawdown in crude oil caught the market by surprise,” said Phil Flynn, senior market analyst at the Price Futures Group in Chicago. “Supplies are coming tighter than expected.” West Texas Intermediate crude for February delivery climbed 96 cents, or 1 percent, to $94.24 a barrel at 12:01 p.m. on the New York Mercantile Exchange. Prices have climbed 2.6 percent since the beginning of the year. Volume was 16 percent above the 100-day average. Brent for February settlement, which expires today, gained 24 cents to $110.54 a barrel on the London-based ICE Futures Europe exchange. The more-active March contract increased 40 cents, or 0.4 percent, to $110.03. Volume was 9.6 percent below the 100-day average.

Gold Drops From One-Week High on Demand Concern; Platinum Slides.
Gold futures retreated from a one- week high in New York amid concern that demand is easing while economic growth slows. Platinum slipped from a three-month high. Buyers of gold are holding back in anticipation of lower prices, according to Afshin Nabavi, a senior vice president at bullion refiner MKS (Switzerland) SA in Geneva. The World Bank cut its global growth forecast for this year and predicted a second year of contraction in the euro region. “Any talk about slowing physical demand will put pressure on prices,” Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview. “Overall, there is some nervousness because of slowdown worries.” Gold futures for February delivery fell 0.4 percent to $1,676.70 an ounce at 10:36 a.m. on the Comex in New York. Prices reached $1,684.90 yesterday, the highest since Jan. 3. The metal rallied 7 percent last year, the 12th straight annual gain. Silver futures for March delivery declined 0.6 percent to $31.33 an ounce on the Comex. On the New York Mercantile Exchange, platinum futures for April delivery retreated 0.3 percent at $1,685 an ounce, heading for the biggest fall for a most-active contract since Jan. 4. Prices in New York reached a three-month high of $1,706.80 yesterday and exceeded the price of gold for the first time since March after Anglo American Platinum Ltd., the world’s biggest producer, said it will cut jobs and output.

Copper Falls to 2-Week Low After Rio’s Beats Forecasts.
Copper fell for a third day in New York on concern the euro-region debt crisis is sapping the economy in Germany, the world’s third-biggest user of the metal. Growth in gross domestic product slowed to 0.7 percent last year from 3 percent in 2011, Germany’s statistics office said today. Prices also slid after Rio Tinto Group’s production of mined copper topped analyst estimates, indicating ample supply. “Obviously it’s slightly bad news for Europe, as Germany is what’s dragging the European economy at the moment,” Christin Tuxen, an analyst at Danske Bank A/S in Copenhagen, said by phone today, referring to the German GDP figures. Copper for delivery in March dropped 0.4 percent to $3.621 a pound on the Comex in New York. Prices reached $3.614, the lowest level since Dec. 31. Copper for delivery in three months fell 0.5 percent to $7,964 a metric ton on

TECHNICAL VIEW ON CURRENCY

TECHNICAL VIEW--->

USD INR (JAN– Expiry)
US dollar is looking strong on charts hence buying is recommended in USD.
Buy around 54.6000 with a SL 54.4500 possible targets of 54.8900/54.9900/55.1400.
OR
Sell AROUND 54.8025 with a SL 54.9800 possible targets of 54.5500/54.4525/54.3200.

EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.6125 with a SL 72.7100 possible targets of 72.5000/72.4025/72.2800.
OR
Buy above 72.7100 with a SL 72.6125 possible targets of 72.8225/72.9600/73.1000.

Currency Headlines
Yuan futures recover on Chinese economic strength.
Yuan might cap the recent fall as the Chinese GDP figures might given strength to their currency. Economic growth quickened to 7.8 percent in the three months ended Dec. 31, from a three-year low of 7.4 percent in the previous period which might support their currency as well. The yuan was steady at 6.2174 per dollar, from yesterday’s 6.2165, according to the China Foreign Exchange Trade System. The People’s Bank of China cut the reference rate by 0.04 percent to 6.2767 per dollar today. The spot is allowed to trade as much as 1 percent on either side of the fixing. Twelve-month non-deliverable forwards rose 0.14 percent to 6.2798 per dollar, a 0.99 percent discount to the onshore spot rate. The yuan climbed 0.11 percent to 6.1858 versus the greenback in the offshore market.