Daily Market Reflection

30th September 2016

Market Outlook

USDINR

Mounting tension between India and Pakistan sent the rupee on a

tailspin on Thursday, after India claimed the Army conducted some
surgical strikes on terror launch pads across the Line of Control
(LoC) and inflicted significant casualties and heavy damages on
Pakistan side.
The dollar rose 1% against the safe-haven yen on Thursday to hit
an eight-day high as investors moved into riskier assets following
an OPEC deal to cut oil output. OPEC said it would reduce output to
a range of 32.5 million-33.0 million barrels per day, a reduction of
0.7-2.2 percent, and the first such deal since 2008.
Fundamental News

Dollar surges vs yen as OPEC deal spurs risk rally.

Japans Retail Sales Decline for First Time in Three Months.
Kuroda says new framework has enhanced sustainability of
BOJ policies.
European Monetary Union Industrial Confidence came in at
-1.7, above forecasts (-4.1) in September.

Currency Future
Currency
Date

Date

% Chg

28-09-16

29-09-16

USDINR

66.7750

67.1525

+0.57%

EURINR

74.9600

75.3800

+0.56%

GBPINR

87.0575

87.5225

+0.53%

JPYINR

66.3125

66.2200

-0.14%

Event Calendar (30th September 2016)

Time
Currency Event

Forecast

Previou
s

1:30 am

USD

Fed Chair Yellen Speaks

5:30 am

JPY

BOJ Gov Kuroda Speaks

11:30 am

EUR

German Retail Sales

m/m

-0.2%

1.7%

2:00 pm

GBP

Current Account

-30.5B

-32.6B

2:30pm

GBP

CPI Flash Estimate y/y

0.4%

0.2%

6:00pm

USD

Core PCE Price Index

m/m

0.2%

0.1%

Reference Rate
Currency Date
28-09-16
USDINR
66.4482
EURINR
74.4552
GBPINR
86.4823
JPYINR
66.0900

Date
29-09-16
66.5521
74.6848
86.6109
65.4300

%
Change
+0.15%
+0.30%
+0.14%
-0.99%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.8600

Prev
Close

%
Chg

66.4650

Dollar Index

95.4600

95.3100

Euro

1.1217

1.1233

+0.59
%
+0.15
%
0.14%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1320.6 1324.56
-0.29%
0
Silver
19.10
19.24
-0.72%
Crude
46.83
47.12
-0.61%
Copper
2.1817 2.1938
-0.55%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
26/09 GBPINR 86.500
0
Trifid special
Date Currenc Entry
y
29/0 GBPINR 87.135
9
0

Exit

P/L

86.260
0

4800

Exit

P/L

87.435
0

12000

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Overview
USDINR

EURINR

USDINR surged higher on back of Rupee depreciation

due to news regarding surgical strikes by Indian Army.

EURINR continued the up move throughout the session

and crossed the crucial resistance mark on daily chart.

On daily charts, it breached the 100 day EMA of 67.1500

and strong closing indicates the movement towards the
next resistance of 67.2700 while 67.0000 is seen as good
support.

It strongly hiked above 75.2025 which was acting as

resistance since several sessions and now 75.6300 is
seen as next resistance whereas 75.2000 may now act
as support.

R1
67.3000

R1

R2

S1

S2

75.5000

75.7000

75.2000

75.0000

R2
67.4000

S1
67.0000

S2
66.9000

GBPINR

JPYINR

GBPINR continued the pull back which it showed in the

last session from support levels.

JPYINR traded on extremely weak note in the start of the

session but gained thereon in the later half to close flat.

It closed near to the important resistance of 87.7000

surpassing which can be act as a positive breakout for the
counter while 87.0000 is seen as strong support.

Constant support around lower sides suggests that

strong buying momentum can be seen in the coming few
sessions as 65.7000 may act as key support.

R1
87.5000

R1
66.3000

R2
87.7000

S1
87.2000

S2
87.0000

R2
66.5000

S1
66.0000

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S2
65.8000

Intraday Super Star

(Premium Section)

USDINR closed strong above the 100 day EMA as shown on the daily chart above. Buying momentum is expected to
continue in the coming session also.
BUY ABOVE 67.2225 TARGETS 67.3425/67.4625 SL 67.0225.

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Trifid Special
(Premium Section)

GBPINR closed around the strong resistance as shown in the chart above after two days positive move. If the currency
pair is able to hold above the mentioned level then it is expected to move northwards.
BUY ABOVE 87.6900 TARGET 87.9900 SL 87.1900.

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