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Geojit Financial Services Ltd.

Published on 24/02/2020 10:34:46 AM

Traders' Corner

Selling in the domestic equities long with strengthening of the USD dragged the Indian currency to end the session at a more than one-month low. However, buying by foreign investors restricted more downside. On Thursday, local unit opened at 71.75 a dollar and slipped to a low of 71.80 before settling the day at 71.64, a level last seen on January 08. On Tuesday, Rupee closed at 71.54. Forex market was closed on Wednesday and Friday on the back of Chhatrapati Shivaji Jayanti and Mahashivratri holidays respectively.

FIIs were buyers in the capital market segment on 20 February; bought shares worth Rs 1495.25cr as per exchange’s provisional figures. DIIs, on the other end were sellers; sold shares worth Rs 699.62cr for the same period. Oil prices came under pressure on global demand and the on the news that OPEC and allied countries’ decision “not to move forward” their planned meeting for the first week of March. Macro-economic data from the global front will be in focus for the current week.

For USDINR, 71.88 will be act as immediate resistance above which 72.22 will be the next level. On the flip side, 71.44 and 71.27 be the support levels.

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Geojit Financial Services Ltd.

Published on 24/02/2020 10:34:26 AM

News Box

* Rupee closed at 71.64 a dollar, down 10 paise against its previous close of 71.54.

* FBIL set the reference rate for USD at 71.5899 and Euro at 77.2522.

* South Korea’s won is the worst performing Asian currency this week as a sharp rise in coronavirus cases in the country heightened investor concerns of its wider spread in the region.

* The Australian dollar hit a fresh 11-year low as commodity currencies sank after Group of 20 officials cited downside risks to global growth from the coronavirus. The yen rallied as the spread of the virus beyond China continued over the weekend.

* The dollar lagged all Group-of-10 peers amid concerns the slowdown in U.S. business activity is a sign that the virus outbreak is starting to crimp the world’s largest economy.

* US dollar fell on weak flash manufacturing PMI slumped to its lowest level since August.

* Euro rebounded after composite flash PMI showed acceleration in February.

* UK’s pound recovered led by solid PMI readings.

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Tradebulls Securities (P) Ltd

Published on 24/02/2020 10:12:10 AM

(CurrencyDesk) Intraday call :-Sell USDINR at 71.8575-71.8675 TGT 71.71 Stoploss 71.98 (Tradebulls Research Desk)

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Swastika Investmart Ltd

Published on 24/02/2020 9:46:07 AM

SELL JPYINR AT 64.41 SL 64.51 TGT 64.2

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SEBI Reg. No. :  NSE/BSE/MSEI: INZ000192732

Swastika Investmart Ltd

Published on 24/02/2020 9:30:29 AM

POSITIONAL BUY USDINR 72PE (28-FEB EXPIRY) CMP 0.22 SL 0.1 TGT 0.5

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SEBI Reg. No. :  NSE/BSE/MSEI: INZ000192732

Kedia Commodities

Published on 24/02/2020 9:19:16 AM

#  JPYINR trading range for the day is 63.08-65.58.
#  The yen against Dollar which fell from 112 to a 10-month low against a broadly stronger U.S. dollar
#  Investors fretted about dire economic news out of the country.
#  China reported a drop in new coronavirus infections , but scientists warned the pathogen may spread

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Kedia Commodities

Published on 24/02/2020 9:19:03 AM

#  GBPINR trading range for the day is 91.71-93.09.
#  Pound continues to struggle against Greenback as uncertainty around the UK’s trade
#  UK retail sales figures released for January was the best monthly performance since May 2018.
#  FOMC minutes recognises the better US data and is content to keep the rate at the current level.

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Kedia Commodities

Published on 24/02/2020 9:18:48 AM

#  EURINR trading range for the day is 77.04-77.8.
#  Euro remains under severe pressure due to the continued disappointing figures for the Eurozone
#  Euro is waiting for a survival ring from the ECB, and the a solution to Corona epidemic
#  Consumer Confidence in the euro area improves in February.

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Kedia Commodities

Published on 24/02/2020 9:18:31 AM

Currency Update as on   Monday, February 24, 2020
#  USDINR trading range for the day is 71.41-71.97.
#  Rupee slides 10 paise to over 1-month low of 71.64 amid heavy selling in domestic equities
#  Investor sentiments remained fragile amid coronavirus fears and sustained foreign fund outflows
#  Currency market was shut on February 19, on account of Chhatrapati Shivaji Maharaj Jayanti.

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Kedia Commodities

Published on 24/02/2020 8:57:10 AM

MARKET OPENING  
  
KEDIA: CURRENCY O/P UPDATE:  
USDINR LOOK TO O/P UP TILL 72.14, EURINR O/P UP TILL 78.08, GBPINR O/P UP TILL 93.33 & JPYINR O/P UP TILL 64.68.  
KEDIA: RUPEE IS AT 72.14 ON OTC. DOLLAR INDEX IS AT 99.54.

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