Nivesh Daily Currency

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1 2 November, 2017 FRO FROM RESEARCH DESK Currency Pair Close % Change Currency Pivot Levels OI % Change Prev OI %Change R * Pivot S* USDINR EURINR GBPINR JPYINR Foreign Currency Update * R= Resistance. S = Support Currency Pair Close % Change Dollar Index EURUSD GBPUSD JPYUSD USDINR 28 November, 2017 Expiry Option Update Options LTP %Chg OI %Chg OI CE CE CE CE PE PE PE PE Note: Previous day movement of Option, OI and IV is indicating negative move in USDINR. RBI Reference Rate (November 1, 2017) Seema Yadav Research Analyst Tel: seema.yadav@indianivesh.in 1 USD 1 GBP 1 EURO 100 YEN India Nivesh Securities Limited SEBI Registration No.INH & 602, Sukh Sagar, N. S. Patkar Marg, Girgaum Chowpatty, Mumbai Tel: (022)

2 Technical View on Major Currency Pair USDINR (November Future) Succinct Summary of Previous Day & Technical Indian rupee traded at six week high Wednesday on likely foreign fund inflows into local stocks while dollar pulled back from a 3 1/2 month high versus the yen, sagging ahead of a U.S. tax bill that will be unveiled after a one day delay. Technical, USDINR extended its fall for third consecutive day and settled at compared to previous close of levels. On the EOD chart, trading on verge of its previous swing support and a break below could extend the loss and it may test very soon. On the upside, massive resistance is seen at Recommendation: LTP Sell below Target Stop loss Important Factor: U.S. Unemployment Claims EURINR (November Future) Succinct Summary of Previous Day&Technical Euro/Rupee traded little changed Wednesday as investors remained on the sideline ahead of Federal Open Market Committee monetary policy meet outcome. Technical, EURINR recovered from the day low and settled at Intraday price action resulted in formation of hammer candle stick which is indicating for trend reversal in pair. On the upside, massive resistance is seen at breaks above only could result in momentum gain towards and above. Daily Important Factor : Spanish Manufacturing PMI Recommendation LTP Sell around Target Stop loss

3 GBPINR(November Future) Succinct Summary of Previous Day&Technical Pound/rupee traded higher Wednesday after better than expected UK manufacturing purchasing managers' index while investors await the Bank of England monetary policy outcome due today. Technical, GBPINR settled up by 0.37%. On the EOD chart, pair broke pennant pattern resistance which is indicating bullishness in days to come. Today, a break above could extend the gain and pair may test levels. On the downside pair would need to trade below in order to test and below, else recovery rally could expect towards Recommendation : LTP Buy around Target Stop loss Important Factor: BOE Monetary Policy JPYINR ( November Future) Succinct Summary of Previous Day & Technical Yen traded down Wednesday on higher risk appetite tracking surge in Asian shares as investors digest regional earnings reports while investors await the release of US Federal Reserve monetary policy meeting outcome. JPYINR plunged 0.89% yesterday and settled at levels. Intraday price action resulted in formation of long bearish candle stick which is indicating for bearishness towards and below. On the upside, massive resistance is seen at breaks above only could witness recovery towards and above. Recommendation/ View : LTP Sell below Stop loss Target Important data : NIL

4 Major Economic Data & Events Released Yesterday/Earlier today The UK manufacturing sector activity expanded notably in October, survey data from IHS Markit reported Wednesday. The IHS Markit/Chartered Institute of Procurement & Supply Purchasing Managers' Index increased to 56.3 in October from revised 56.0 in September. U.S. private employers added 235,000 jobs in October, well above economists' expectations, a report by a payrolls processor ADP showed. U.S. Institute for Supply Management (ISM) said its index of national factory activity fell to 58.7 from 60.8 the month before. The reading was just below expectations of 59.5 from a Reuters poll of 73 economists Fed kept interest rates unchanged, as was widely expected while leaving the door open for a December rate hike. There was also little in the post meeting statement Wednesday to indicate that the Fed would hold off on rising rates again soon. Major Economic Data & Events Schedule today Time Currency Economic Indicators Forecast Previous Possible Impact 1:45pm EUR Spanish Manufacturing PMI Positive 2:15pm EUR Italian Manufacturing PMI Positive 2:20pm EUR French Final Manufacturing PMI Neutral 2:25pm EUR German Final Manufacturing PMI Neutral EUR German Unemployment Change 10K 23K Positive 2:30pm EUR Final Manufacturing PMI Neutral 3:00pm GBP Construction PMI Positive Tentative EUR Spanish 10 y Bond Auction Tentative EUR French 10 y Bond Auction :00pm USD Challenger Job Cuts y/y 27.00% 5:30pm GBP BOE Inflation Report GBP MPC Official Bank Rate Votes Positive GBP Monetary Policy Summary GBP Official Bank Rate 0.50% 0.25% Positive GBP Asset Purchase Facility 435B 435B Neutral GBP MPC Asset Purchase Facility Votes Neutral 6:00pm GBP BOE Gov Carney Speaks USD Unemployment Claims 235K 233K Neutral USD FOMC Member Powell Speaks USD Prelim Nonfarm Productivity q/q 2.50% 1.50% Positive USD Prelim Unit Labor Costs q/q 0.50% 0.20% Positive 9:50pm USD FOMC Member Dudley Speaks Impact: HighLowMedium Note: Economic data expectations are based on median forecast by economists or Reuters and Bloomberg survey. Here positive impact indicates currency could appreciate and negative indicates currency could depreciate in comparison with US Dollar.Technical Chart Source: TickerNews Source: Ticker news, Forexfactory.com, forexlive.com and investing.com*dos Depends on Statement. DOV Depends on Votes. Source investing.com, Reuters & ticker news.

5 IndiaNivesh Securities Limited SEBI Registration No.INH & 602, Sukh Sagar, N. S. Patkar Marg, Girgaum Chowpatty, Mumbai Tel: (022) / Fax: (022) e mail: research@indianivesh.in Website: Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (IndiaNivesh), for use by the recipient as information only and is not for circulation or public distribution. This document is not to be reproduced, copied, redistributed or published or made available to others, in whole or in part without prior permission from us. This document is not to be construed as an offer to sell or the solicitation of an offer to buy any currency pair. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. The information contained in this document has been obtained from sources that are considered as reliable though its accuracy or Completeness has not been verified by IndiaNivesh independently and cannot be guaranteed. Neither IndiaNivesh nor any of its affiliates, its directors or its employees accepts any responsibility or whatever nature for the information, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this material only. IndiaNivesh directors and its clients may have holdings in the currencies mentioned in the report.