Currency derivatives analysis 7 May 2014

Currency derivatives analysis 7 May 2014

Currency derivatives analysis 7 May 2014

 

USDINR May expiry future last closed at 60.27 with 17 paisa loss. In Intraday MCX-SX Dollar-rupee future hit high at 60.48 while low was 60.24. Total 24-paisa intraday range and closed with loss. For tomorrow, stay short with stop loss 60.6 for target 60 rupees.

 

EURINR May future last closed at 84.02 with gain of 17 paisa. In Intraday MCX-SX Euro-rupee future hit high at 84.15 while low was 83.7. Total almost 45-paisa intraday range and closed with gain. Euro above 83.8 will remain buy for intraday.

 

GBPINR May expiry future last closed at 102.29 with loss of 39 paisa. In intraday MCX-SX Pound-rupee, future hit high at 102.4 while low was at 101.76. Total 64-paisa intraday range and closed with gain. For tomorrow, stay long with trailing stop loss at 102.

 

JPYINR May expiry future last closed at 59.26 with 1 paisa loss. In intraday MCX-SX Yen-rupee, future hit high at 59.3 while low was at 59.09. Total 21-paisa intraday range and closed with loss. Stay short with stop loss 59.6 for target 58.7 and below.

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Pramod Baviskar

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