USDINR opened at 73.08 Y’day and the pair traded in the 73.05-73.30 range. Spot USDINR closed at 73.27 , gain of 14 ps for USD as against prior close of 73.13. RBI reference rate was fixed at 73.29 on Thursday. Oct USD/INR closed at 73.40, gain of 15 ps for USD as compared to prior day’s close of 73.25. Oct Euro/INR closed at 86.56, GBP/INR at 95.55 and Yen/INR at 69.60.

FII’S nett bought Rs 4284 Cr of Indian Equities in Oct . FII’S nett sold Rs 3135 Cr of Indian debt securities in Sept . In this financial year, FII’S have nett bought Rs 83768 Cr of Equities and have sold Rs  31683 Cr in debt. In FY 19-20, FII’s have sold Rs 10200 Cr of Equities and 47393 cr of debt.

Benchmark Nifty climbed 0.14% y’day. DOW climbed 250 points (0.88%).Nikkei declined 0.26% and Hang seng climbed 2.20%.

Euro closed the week at 1.1794,Pound at 1.3040,Yen at 105.36. 

Commodities: Gold is now at USD 1920 and WT1Crude at USD 39.44/Brent at USD 41.74.

Interest rates: USD 10 Yr yield is at 0.76% and 3 m libor closed at 0.25%. Indian 10 yr benchmark yield closed at 5.94%.

Economic news: Indian IIP contracted 8% in Aug and retail inflation was higher at 7.34% in Sept. Food inflation was higher at 10.68%. Aug inflation was at 6.68%.

Mfrg sector contracted 8.6, mining contracted 9.8% in Aug.

FM announced festival advance of Rs 10000 and encashment of leave travel allowance. However, the amount will have to be spent on purchase of non food items. This is aimed at boosting consumer demand.

Data highlights : – No major data release.

Tuesday’s calendar: – US CPI

-EU Zew survey

-UK unemployment rate and claimant count change.

USD/INR   73.30 73.05
EUR/USD 1.1794 1.1827 1.1786
GBP/USD 1.3040 1.3084 1.3004
USD/JPY 105.36 105.89 105.24

Daily Support/Resistance table

CurrencyPairs Pivot R1 R2 R3 S1 S2 S3
EURO/USD 1.1809 1.1832 1.1851 1.1874 1.1791 1.1767 1.1749
GBP/USD 1.3051 1.3098 1.3131 1.3177 1.3018 1.2971 1.2938
USD/JPY 105.47


105.70 106.12 106.36 105.05 104.82




USD/INR 73.21 73.36 73.46   73.12 72.96  


Curency Pair Supports Resistances Trend Remarks
EURO/USD 1.1610 1.1920/1.2010 UP DN<1.16
GBP/USD 1.2670/1.2480 1.3250/1.3450 UP DN<1.2675
USD/JPY 104.10 106.10/107.50 DN UP>107
USD/INR 72.70 73.52/73.98 DN UP>74.50
USD/CHF 0.90 0.92 UP DN<0.9150

Technicals: Spot closed below 200 day moving average. 20 day moving average is at 73.50. 50 day moving average is at 73.95.200 day moving average is at 74. Daily MACD is in sell zone, implying top at 73.98. Important support is at 72.70 and important resistance is at 73.53 and later at 73.98. Spot closed above its average level of the day.

Intra day supports and resistances for Oct contract are:

PP:73.35,S1:73.20, S2:72.99, R1:73.55, R2: 73.71.                        

Hedging strategy for USD/INR: Hedging decisions be taken according to comfort and accounting rates.


EURO/USD: The pair is above 50 and 200 day major moving averages. Next Major resistance is at 1.1920 and later at 1.20. Major support is at 1.1610. Daily MACD is in buy zone, implying an important bottom at 1.1610. Weekly MACD is in sell zone, implying important top at 1.20.

GBP/USD: The pair is above major moving averages. Daily MACD  is in buy zone, implying important bottom at 1.2674 and weekly MACD is  in sell zone, implying important top at 1.3484. Important support is at 1.2670/1.2470 . Important resistance is at 1.3250 and later at around 1.35.

USD/YEN: The pair is between major moving averages. Daily MACD is in buy zone, implying important bottom at 104. Next important resistance is at 106.10/107.50. Important support is at at 104.10

 For all your investment needs feel free to reach Goodwill.

Give us Missed Call us on 90037 90027 . For Support : 044-40329999

Leave a reply:

Your email address will not be published.

Site Footer