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CURRENCY MARKET OVERVIEW :

By Goodwill
146 Comments
December 15, 2023

CURRENCY MARKET OVERVIEW :

Currency Market Overview December 15, 2023

USD/INR Technical view:

The pair made an all time high of 83.49 and gave small profit booking till 82.90. In long term, the pair is expected to trend towards new psychological level of 84.00. Fresh buying opportunity is seen at 83.50 levels and then the target would be 83.75/84.00 levels. Short term resistance lies at 83.50 levels. The immediate support is at 83.25/83.10. Break down below this level will give good bearish signal in the pair and hence the target would be 82.90/82.60. The momentum indicators are suggesting that the upward bias of USD/INR remains intact. Technically the overall trend is expected to trade in a broad range of 83.50 to 82.90. Breaking below this range will give clear indication on the trend. Federal Reserve (Fed) pivoted into a path toward rate cuts after months of towing the “higher for longer” line.

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on Derivatives

9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹ 50,000.
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

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