The Indian rupee appreciated marginally against the US dollar on Monday due to selling of dollars by exporters and banks, though weak domestic market sentiment and foreign fund outflows prevented sharp gains; US home sales and UK mortgage approvals declined, while German business confidence increased; technical analyses indicated potential near-term price targets for various currency pairs including the USDINR, EURINR, and GBPINR.

1. Currency Highlights
27th
Sep’2016
HighLights:
 Indian Rupee appreciated marginally to 66.61 in Monday’s trade
 US New Home Sales plunged by 50,000 to 609,000 in August
 German Ifo Business Climate surged to 109.5-mark in September
 UK’s BBA Mortgage Approvals fell to 37,000 in the last month
Indian Rupee continued with positive bias for third consecutive day and ap-
preciated marginally by 4 paise to end at 66.61 against the US dollar on Mon-
day. The currency appreciated on account of selling of dollars from exporters
and banks.
However, weak domestic market sentiments along with outflow of foreign
funds capped sharp gains in the currency. FIIs as per Monday’s data were net
sellers in equity segment, while they were net buyers in debt segment, ac-
cording to data released by the NSDL. In equity segment, the gross buying
was of Rs 5755.00 crore against gross selling of Rs 6002.71 crore. Thus, FIIs
stood as net sellers of Rs 247.71 crore in equities. In the debt segment, the
gross purchase was of Rs 1935.79 crore with gross sales of Rs 1386.40 crore.
Thus, FIIs stood as net buyers of Rs 549.39 crore in debt.
Indian Rupee moved in the range of 66.61 to 66.78 in Monday’s trading session. The Reserve Bank of India (RBI) fixed reference rate for the
dollar was seen at 66.71 and Euro stood at 74.88 as on 26th
September, 2016.
In cross-currency trades, the rupee rose further against the pound sterling to end at 86.15 from 86.39, while fell back modestly against the
euro to settle at 74.95 as compared to 74.75 last Friday. It also retreated against the Japanese yen to close at 66.34 from 66.13 per 100
yens earlier.
US Dollar Index declined around 0.2 percent in Monday’s trading session due to unfavourable economic data from the country. However,
sharp downside in the currency was cushioned as a result of rise in risk aversion in global markets which led to increase in demand for the
low yielding currency.
US New Home Sales plunged by 50,000 to 609,000 in August as against a rise of 659,000 in July.
Euro against dollar rose around 0.14 percent on Monday on account of weakness in the dollar index. Further, favourable economic data
from the region led to positive movement in the currency. However, weak global market sentiments capped sharp gains in the currency.
German Ifo Business Climate surged by 3.2 points to 109.5-mark in September as against a rise of 106.3-level in August. Italian Retail Sales
declined by 0.3 percent in July from a rise of 0.3 percent a month ago.
The Sterling Pound declined marginally in Monday’s trade as a result of weak global market sentiments along with unfavourable economic
data from the country. However, weaker dollar prevented sharp downside movement in the currency.
UK’s British Bankers' Association (BBA) Mortgage Approvals fell to 37,000 in August with respect to rise of 37,700 in July.
The Japanese Yen against dollar appreciated around 0.6 percent in Monday’s trading session due to rise in risk aversion in global market
sentiments which led to increase in demand for the low yielding currency.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 95.36 95.48 (0.12) (0.13)
USD/INR(Spot) 66.66 66.70 (0.04) (0.06)
USD/INR(NseAug) 66.68 66.67 0.01 0.01
EUR/INR(Spot) 74.96 74.87 0.09 0.12
EUR/INR(NseAug 74.97 74.79 0.18 0.24
GBP/INR(Spot) 86.19 86.48 (0.29) (0.34)
GBP/INR(NseAug) 86.32 86.54 (0.22) (0.25)
JPY/INR(NseAug) 66.36 66.15 0.21 0.32
MarketHighlights

2. Technical View:
On daily chart JPYINR prices have been trading in sym-
metrical triangle pattern. However, price has faced re-
sistance near 67.10 levels on daily chart.
Moreover, any further movement can been seen in the
prices if JPYINR has given breakout above 67.10 levels o
daily chart.
Furthermore, prices have been trading above its 50 DE-
MA, which suggest medium term trend is positive.
On daily chart momentum indicator RSI reading is at 55
levels which is also strong horizontal support now its
point out for positive breath in the pair.
So for trading perspective, one could use buy above level
of 67.10 with SL of 66.50 for Target of 67.80.
Pivot levels for the Day
Technical View:
On daily USDINR prices have been trading in falling
channel formation from past few weeks. The pair has
formed bearish candle stick with appealing volumes.
On the other hand, prices have been facing resistance of
its upper band of channel pattern at 67.10 levels on dai-
ly.
Moreover, prices have been trading below 21 DEMA
which gives the sign of bearishness in the prices.
A momentum indictor RSI has traded below 40 levels,
which suggest further weakness in the prices.
So for trading perspective, one could sell in range 67.10-
67.20 with SL of 67.50 for target of 66.30-66.10
Currency Highlights
27th
Sep’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 66.43 66.57 66.62 66.71 66.76 66.85 66.99
JPYINR 65.55 65.91 66.13 66.27 66.49 66.63 66.99

3. Pivot levels for the Day
Currency Highlights
27th
Sep’2016
GBPINR EURINR
Technical View:
On daily chart EURINR price have been trading
in descending triangle pattern from past months. On
the other hand, price has taken support near its lower
band of triangle pattern at 74.20 levels on daily chart.
Moreover, prices have been trading above its 21 DE-
MA, which suggest short term trend remains bullish.
On daily chart momentum oscillator RSI have been trad-
ing above 40 which suggest bullishness in the prices.
A momentum indicator MACD has shown positive cross-
over on daily chart, which add more bullishness in the
prices.
For now we can expect prices should move higher to-
wards 75.60 levels in the coming trading session.
Technical View:
On daily GBPINR price has been trading in falling chan-
nel pattern and price has faced resistance near 88 levels
on daily chart.
Moreover, prices have been trading below 21 DEMA,
which suggest short term trend remains weak.
The price has given breakdown of horizontal trend line
at 87.30 levels on daily chart.
A momentum indicator MADC has given negative Cross
over on daily chart, which gives the sign of bearishness
in the prices.
The momentum indictor RSI has been trading below 40
levels on daily chart. Which suggest lack of strength in
the prices.
For now we expect prices should move lower towards
85.60 levels coming trading sessions.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
GBPINR 85.52 86.00 86.17 86.48 86.65 86.96 87.44
EURINR 74.59 74.78 74.89 74.97 75.08 75.16 75.35

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
27th
Sep’2016
Economic Indicators
Date Time Data Prior Expected Impact
27.09.16 1:30 PM M3 Money Supply y/y 4.8% 4.9% Actual > Forecast = Good
for currency; EURINR
27.09.16 7:30 PM CB Consumer Confidence 101.10 98.60 Actual > Forecast = Good
for currency; USDINR
27.09.16 8:45 PM FOMC Member Fischer
Speaks
More hawkish than expected
= Good for currency;
USDINR

5. Currency Highlights
27th
Sep’2016
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Amit Pathania
Digitally signed by Amit Pathania
DN: cn=Amit Pathania, o=Choice Equity Broking Pvt. ltd, ou=Research
Department, email=amit.pathania@choiceindia.com, c=IN
Date: 2016.09.27 09:07:10 +05'30'