U.S. Market ASIA. EUR/USD % Global Currency GBP/USD % NDF

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1 12/09/2016 MARKET OVERVIEW Asian markets are completely in the red, continuing with the negative trend from the Friday. Talks of FED, amidst the rebound in US dollar led to the fall in risk appetite. US dollar continued to appreciate as the US dollar rebound continued against the majors. Focus would be on the British Pound this week, with many important events scheduled. Indian rupee is set to open on another negative note as the risk off sentiment continued. We expect no major change in the trend but in spot could limit rapid depreciation. U.S. Market ASIA GLOBAL TRACKER MARKETS YESTERDAY Close TODAY CLOSE % change Nasdaq % Dow Jones % Nikkei % Hang Seng % SGX NIFTY % YESTERDAY AT 5.PM TODAY MORNING % change EUR/USD % Global Currency GBP/USD % NDF USD /JPY % USDINR SPOT % CURRENCY PAIR USDINR BUY EURINR SELL GBPINR SELL JPYINR SELL

2 USDINR OUTLOOK USDINR TECHNICAL OUTLOOK Above is the Daily Chart of USDINR, the pair after opening at 66.70and made a low of and trading with a strong momentum on the upside,the pair was hovering near the crucial support of (200DMA) and now had a strong candle that suggest bulls aggressiveness on the on the lower side thus until the pair close below any dips shall be untied to buy the pair STRATEGY(AUG)- ENTRY TARGET STOP LOSS BUY TREND 67.30/67.10/ /66.86/66.60 POSITIVE US dollar index is trading at 95.30, continued to remain on a stronger side against the majors despite the soft economic data. Markets remained doubtful about the continue appreciation for the majors and the demand for the US dollar improved as risk appetite waned in the last few sessions. There is no major data today and markets are likely to remain range bound for most of the day.

3 EUR/USD EURINR EUR/USD TECHNICAL OUTLOOK EUR/USD. Pair after opening at Made a high of and was trading with side wise to negative bias, during the day after violating the supports of the pair is having strong supply coming in above 1.3 mark and not able to close above the said levels so any rise in the pair is shorting opportunity SELL SELL / / / /74.80 Euro is trading at , deprecating marginally against the US dollar from Friday. Euro remained weak despite positive outlook from the ECB chairman. Weaker data in the previous week added to the pressure on the Euro. No economic data from the Euro area today and elsewhere, expect the US dollar to trade stronger and Euro to test 1.12.

4 GBP/USD GBPINR GBP/USD TECHNICAL OUTLOOK GBP/USD. Pair after opening at made a high of , and saw some profit booking from the higher levels after a strong run up from the past weeks, the pair is likely to consolidate near the 50DMA at and any close below this range can see some volatile movement in the pair but intraday rise would be a shorting opportunity SELL SELL / / /88.55 Pound is trading at , continuing with the downturn after the manufacturing production missed expectations. US dollar s resilience added to the weakness in the Pound but expect a lot of volatility in the British currency during this week, with key data including the bank of England interest rate decision. Expect some more weakness in the currency today.

5 USD/JPY JPYINR USD/JPY TECHNICAL OUTLOOK USD/JPY. Pair after opening at and made a high of and was seen buying pressure from the downward levels the trend line marked in the report few days back, the pair is having a key support at in the near term and is likely to hold that for the near term and intraday dips utilized to buy the pair BUY SELL / / / /64.90 Yen is trading at , after testing in Friday s trade. Rebound in the US dollar continued to pressure the Yen, despite positive data being reported from Japan. There are no major events till the FOMC meeting to ascertain the trend in dollar-yen. Range bound trade can be expected today.

6 Prepared by:- Rakesh Chelapareddy Deepak Agarwal Disclaimer The information and views presented in this report are prepared by Karvy Stock Broking Limited. The information contained herein is based on our analysis and up on sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor any person connected with any associated companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above-mentioned companies from time to time. Every employee of Karvy and its associated companies are required to disclose their individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Stock Broking Ltd.