LKP SECURITIES LIMITED 13th Floor Raheja Center, Free ...lkp.accordhostings.com/Admin/Research/635587243580247500LKP DAILY... · LKP SECURITIES LIMITED 13th Floor Raheja Center, Free

LKP SECURITIES LIMITED13th Floor Raheja Center, Free Press Marg, Nariman Point, Mumbai-400021


1269.4 1274.2 1269.0 1271.9 0.2 2.617.35 17.49 17.33 17.45 0.6 0.1

1875.0 1876.5 1869.5 1873.5 -0.1 -1.55690.0 5690.5 5640.0 5667.5 -0.7 -39.51862.0 1862.0 1850.0 1856.0 -0.4 -8.0

15050.0 15060.0 14850.0 14920.0 -1.3 -200.02140.0 2140.0 2130.0 2133.5 -0.4 -7.5

52.29 52.40 48.00 48.35 -8.84 -4.692.66 2.68 2.66 2.67 0.0 0.4

94.44 94.61 94.25 94.29 -0.1500 -0.14431.1334 1.1359 1.1302 1.1355 0.1900 0.00211.5182 1.5200 1.5165 1.5197 0.1000 0.0016117.30 117.35 116.99 117.28 -0.0200 -0.020068.34 68.34 67.65 67.85 -0.7000 -0.47841.3485 1.3492 1.3468 1.3478 -0.0500 -0.00071.2572 1.2587 1.2544 1.2551 -0.1700 -0.00220.9255 0.9270 0.9218 0.9230 -0.2500 -0.00236.2472 6.2551 6.2073 6.2472 0.0000 0.0000

TIME ZONE Forecast Previous

12:30pm EUR 0.014 -0.0242:40pm EUR 0 47.63:30pm EUR 0 0Tentative EUR 0 0.79|2.06:00pm USD 0 0.0667:00pm USD -38.2B -39.0B7:00pm USD 287K 265K

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Trade BalanceUnemployment Claims


CanadianSwissfrancRMB

DATAGerman Factory Orders m/mRetail PMI

Currency

Euro zone factory activity grew slightly last month as companies keptslashing prices, but a weakened currency did little to help drive neworders from abroad, a survey showed. "Euro zone manufacturing showedsigns of pulling out of the doldrums at the start of the year, but the rateof expansion remained disappointingly meager, vindicating the ECB'sdecision to take drastic action," said Chris Williamson, chief economist atsurvey compiler Markit. The survey's results were mostly collected beforethe European Central Bank announced a near-trillion euro quantitativeeasing program as part of its bid to revive inflation and drive up growth.Markit's final January manufacturing Purchasing Managers' Index (PMI)was 51.0, in line with an earlier flash reading. Although it was a six-month high, it was only just above the 50 mark that separates growthfrom contraction. In December the index came in at 50.6. Firms cutprices in January at the steepest rate since mid-2013. Data on Fridayshowed prices fell at a record-equaling 0.6 percent across the 19 nationsusing the euro in January.

Dollar IndexEuroGB PoundJapan YENRus. RoubleSingapore

EU Economic ForecastsFrench 10-y Bond AuctionChallenger Job Cuts y/y

LME NickelLME Zinc

EnergyCrude $

Trend Market Update

Precious MetalsGrowth among India's services firms picked up pace in January as burgeoningorder books boosted confidence, suggesting further expansion this month, abusiness survey showed. The HSBC Services Purchasing Managers' Index(PMI), compiled by Markit, rose to 52.4 in January from 51.1 in December. Ithas been above 50 level, which denotes growth, since May 2014. The newbusiness sub-index - which measures demand - climbed to 52.1 from 51.8.The survey also showed firms' confidence regarding future business grew atthe fastest pace since June last year. The Reserve Bank of India held interestrates steady on Tuesday, while boosting banks' liquidity in a bid to persuadethem to lower lending rates after they failed to pass on the benefits of the lastofficial rate cut three weeks ago. The central bank's surprise quarter-point cutin January was a clear sign inflation was easing. But the services PMI datashowed input costs rose at a faster rate in January and that firms were able topass on a slightly bigger portion to customers by raising prices.

Gold $Silver $

Base MetalLME Alum.LME Copper

Nat. Gas $

Item Open High Low Close % Cng Net Cng

LME Lead

OPEN HIGH LOW CLOSE % RE VOL OI R2 R3 PP S1 S3

61.90 62.15 61.82 62.04 0.09 0.06 1,185,040 1221736 62.34 62.52 62.01 61.86 61.53

# USDINR trading range for the day is 61.67-62.34.# Rupee settled flat on sustained dollar buying from state-owned banks, even as currencies in the region rose.# Growth among India's services firms picked up pace in January as burgeoning order books boosted confidence, suggesting further expansion this month.# Reserve Bank of India Governor Raghuram Rajan said that inflation was still a concern# RBI Reference Rate for USDINR was 61.68 vs 61.68. # BUY USDINR @ 61.85 SL 61.70 TGT 61.98-62.15.

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NSE-CUR USDINR Feb 2015Rupee settled flat on sustained dollar buying from state-owned banks,even as currencies in the region rose. Growth among India's servicesfirms picked up pace in January as burgeoning order books boostedconfidence, suggesting further expansion this month, a business surveyshowed. The HSBC Services Purchasing Managers' Index (PMI), compiledby Markit, rose to 52.4 in January from 51.1 in December. It has beenabove 50 level, which denotes growth, since May 2014. The new businesssub-index - which measures demand - climbed to 52.1 from 51.8. Thesurvey also showed firms' confidence regarding future business grew atthe fastest pace since June last year. Reserve Bank of India GovernorRaghuram Rajan said that inflation was still a concern but added thedeflationary global environment gave the central bank some elbow roomwith monetary policy. Central bank officials are currently in discussionswith analysts on the policy rationale. India's fiscal deficit overshot the full-year target in December as the gap swelled to 5.32 trillion rupees($85.90 billion), or 100.2 percent of the target for the fiscal year endingin March, government data showed. The deficit was 95.2 percent duringthe same period a year ago. Net tax receipts were at 5.46 trillion rupees($88.16 billion) in the first nine months of the current financial year.Technically market is under fresh buying as market has witnessed gain inopen interest by 3.79% to settled at 1227383 while prices up 0.0325rupee, now USDINR is getting support at 61.8475 and below same couldsee a test of 61.6675 level, And resistance is now likely to be seen at62.18, a move above could see prices testing 62.3325.

R1 S2

62.19 61.67


70.77 71.16 70.77 70.96 0.88 0.62 57,895 39450 71.36 71.55 70.96 70.76 70.37

# EURINR trading range for the day is 70.57-71.36.# Euro rallied as traders covered their short positions amid news that Greece won’t require a debt write-off.# Investor confidence was boosted after the Greek government outlined its plans to renegotiate the terms of its €140 billion bailout# Eurozone retail sales grew at a slower pace in December, Eurostat showed.# RBI Reference Rate for EURINR was 70.747 vs 70.747. # SELL EURINR BELOW 70.55 SL 70.90 TGT 70.26-69.95

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71.16 70.57

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NSE-CUR EURINR Feb 2015Euro rallied as traders covered their short positions amid news thatGreece won’t require a debt write-off, but instead will look to issue newdebt and rearrange new funding conditions for the country. Eurozoneretail sales grew at a slower pace in December, Eurostat showed. Retailsales grew 0.3 percent month-on-month in December, slower thanNovember's 0.7 percent increase. Greece wanted to raise €10 billion inshort-term bills as "bridge financing" to have enough funds for the nextthree months, while the country will try to renegotiate a new bailoutprogram. This proposal has, however, been rejected by Germany and theEuropean Central Bank (ECB) as well. The European Central Bank isconsidering to withdraw from the group reviewing the bailout programmeof Greece, German daily Handelsblatt reported. The InternationalMonetary Fund also prefers to leave the troika, the report said. If bothECB and IMF leave the group, then the European Commission will be thesole member in troika. The Syriza party came to power in Greece underthe leadership of Alexis Tsipras, promising a roll back of austeritymeasures. Investor confidence was boosted Tuesday after the Greekgovernment outlined its plans to renegotiate the terms of its €140 billionbailout, retreating from election pledges to demand a debt write-down.Technically market is under short covering as market has witnessed dropin open interest by -1.64% to settled at 39684 while prices up 0.62rupee, now EURINR is getting support at 70.8375 and below same couldsee a test of 70.6075 level, And resistance is now likely to be seen at71.23, a move above could see prices testing 71.3925.

R1 S2


93.57 94.36 93.57 94.19 0.88 0.82 61,673 23770 94.83 95.3 94.0 93.7 92.93

# GBPINR trading range for the day is 93.25-94.83.# GBP gained after the release of upbeat U.K. service sector activity data.# The U.K. service sector expanded more than expected in January as new business rose at a faster pace, survey data from Markit showed. # Shop prices in the United Kingdom were down 1.3 percent on year in January, the British Retail Consortium said. # RBI Reference Rate for GBPINR was 93.5316 vs 93.5316. # BUY GBPINR ABV 94.20 SL 93.95 TGT 94.42-94.65-94.90.

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GBP gained after the release of upbeat U.K. service sector activity data,as investors remained cautious amid ongoing uncertainty over Greece'sfuture in the euro zone. The U.K. service sector expanded more thanexpected in January as new business rose at a faster pace, survey datafrom Markit showed. The Markit/Chartered Institute of Purchasing &Supply Purchasing Managers' Index rose to 57.2 in January from 55.8 inDecember. The score was forecast to rise to 56.3. Growth has now beenrecorded for 25 months in succession. New business received by UKservice sector companies increased at a marked and accelerated pace inJanuary. Backlogs increased consecutively for 22 months, and somerespondents blamed a lack of staff at their units as a reason for furtherbacklog growth. Shop prices in the United Kingdom were down 1.3percent on year in January, the British Retail Consortium said. That wasslower than the 1.7 percent drop in December and the forecasts for adecline of 1.6 percent. Data showed that the Markit/CIPS ServicesPurchasing Managers Index increased to 57.2 last month from a readingof 55.8 in December. The report came one day after Markit and theChartered Institute of Purchasing & Supply said that their U.K.construction PMI increased to 59.1 last month from a reading of 57.6 inDecember. Technically market is under fresh buying as market haswitnessed gain in open interest by 19.81% to settled at 25797, nowGBPINR is getting support at 93.64 and below same could see a test of93.21 level, And resistance is now likely to be seen at 94.43, a moveabove could see prices testing 94.79.

R1 S2

94.51 93.25

Trading Ideas :

NSE-CUR GBPINR Feb 2015

OPEN HIGH LOW CLOSE % RE VOL OI R2 R3 PP S1 S352.53 52.99 52.42 52.80 0.09 0.05 39,637 14109 53.31 53.6 52.7 52.5 51.92

# JPYINR trading range for the day is 52.17-53.31.# JPY weakened amid growing speculation that the Bank of Japan will extend its money-printing program in the coming months. # Bank of Japan Deputy Governor Kikuo Iwata said the recent collapse in oil prices has not hampered a broad uptrend in consumer prices.# Japan's services sector continued to expand in January, albeit at a slightly slower pace, the latest survey from Markit Economics revealed.# RBI Reference Rate for JPYINR was 52.42 vs 52.42. # BUY JPYINR @ 52.95 SL 52.70 TGT 53.10-53.30.

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NSE-CUR JPYINR Feb 2015JPY weakened amid growing speculation that the Bank of Japan willextend its money-printing program in the coming months. Bank ofJapan Deputy Governor Kikuo Iwata said the recent collapse in oilprices has not hampered a broad uptrend in consumer prices,stressing that the effect of the bank's monetary stimulus is workingits way through the economy. Iwata, one of the BOJ's two deputygovernors and an architect of the bank's radical stimulus programme,said monetary policy cannot immediately fix short-term fluctuationsin inflation driven by external factors such as oil price falls. Japan'sservices sector continued to expand in January, albeit at a slightlyslower pace, the latest survey from Markit Economics revealed with aPMI score of 51.3 - expanding for the third straight month. That'sdown from 51.7 in December, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Thecomposite PMI, which also factors in manufacturing, posted a score of51.7 in January - down from 51.9 in the previous month. Total laborcash earnings in Japan grew at a faster rate as expected inDecember, a report from the Ministry of Health, Labor and Welfareshowed. Total earnings increased 1.6 percent year-over-year inDecember following the 0.1 percent rise in November. Technicallymarket is under short covering as market has witnessed drop in openinterest by -13.35% to settled at 14112 while prices up 0.0375rupee, now JPYINR is getting support at 52.41 and below same couldsee a test of 52.13 level, And resistance is now likely to be seen at52.98, a move above could see prices testing 53.27.

R1 S253.06 52.17

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MONTH RATE FEB MAR APR MONTH RATE MAR APR

FEB 62.04 0.395 0.80 FEB 70.96 0.39 0.89

MAR 62.44 0.41 MAR 71.35 0.50

APR 62.84 APR 71.85

MONTH RATE FEB MAR APR MONTH RATE MAR APR

FEB 94.19 0.505 0.96 FEB 52.80 0.30 -52.80

MAR 94.69 -3.00 0.46 MAR 53.10 -53.10

APR 95.15 -5.00 APR 0.00

Last Trade INR U.S. $ Euro € U.K. £ ￥en

1 INR = - 0.0161 0.0142 0.0106 1.8921 Last Previous 1 U.S. $ = 61.873 - 0.8805 0.6577 117.280 61.680 61.680 1 Euro € = 70.111 1.1355 - 0.7470 133.17 70.747 70.747 1 U.K. £ = 93.842 1.5197 1.3380 - 178.24 52.420 52.420 1 ￥en = 0.5276 0.0085 0.7509 0.0056 - 93.532 93.532

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EUROYENGBP


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MAJOR CURRENCY CROSS RATESRBI Reference Rate

DateUSD

-3.00

-5.00

SPREAD MATRIX FOR GBPINR SPREAD MATRIX FOR JPYINR

FEB

SPREAD MATRIX FOR USDINR SPREAD MATRIX FOR EURINR

FEB

LKP SECURITIES LIMITED Currency Desk13th Floor Raheja Center, Free Press Marg, Nariman Point, Mumbai-400021Phone:022- 66351234 Ext 239 .

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Disclaimer: The information in this document has been printed on the basis of publicly available information, internal data and otherreliable sources believed to be true and is for general guidance only. While every effort is made to ensure the accuracy andcompleteness of information contained, the company makes no guarantee and assumes no liability for any errors or omissions of theinformation. No one can use the information as the basis for any claim, demand or cause of action. LKP Securities Ltd., and affiliates,including the analyst who have issued this report, may, on the date of this report, and from time to time, have long or short positionsin, and buy or sell the Currencies mentioned herein or engage in any other transaction involving such Currencies and earn brokerageor compensation or act as advisor or have other potential conflict of interest with respect to company/ies mentioned herein orinconsistent with any recommendation and related information and opinions. LKP Securities Ltd., and affiliates may seek to provide orhave engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to thecompanies referred to in this report, as on the date of this report or in the past.


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