Stock advisory Company: Rupee Gives Breakout, ECB’s Monetary Policy Affects Emerging Market

Rupee Has Given Five-Month High Of 65.20, All Emerging MarkeFive-Months Are Being Affected By ECB Monetary Policy.

Indian Rupee has given a breakout of its 5 month high of 65.20 and yesterday closed at 65.45 next target of the currency is at 66.90. Depreciating Rupee may create a panic in the Equity market too. Dynamic Research has also identified sell-off in Emerging Market Indices and Emerging Market Currencies. The Emerging market currency showed weakness after, ECB President Mario Draghi signaled QE tapering in upcoming monetary policy due on 26th Oct 2017.

Performance of Emerging Market Currencies

Performance of Emerging Market Indices

NIFTY OUTLOOK & OPEN INTEREST IN INDEX OPTION

again FII and Pro have created a sell position 12599 contracts in Index Options. In last 10 days, FII&PRO has created a short position of 360996 contracts and Nifty has given a correction of 207 points. In last 10days, FII and DII in combined have sold stocks worth Rs. 2582.07 Crore in cash segment. Small Cap Index after making a high of 8093 on 20th Sep is currently trading at 7584.