NSE Currency Futures Report : 18th December

Insignia Consultants

New Delhi

Tuesday, December 18, 2018

TIME: 9:32 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

Volatility will rise today and tomorrow before the FOMC. Euro and pound are oversold. Look for signs of trend reversal. Yen looks headed for more rise against the rupee. Indian stock markets should rise on higher foreign portfolio inflows. India is still the safest bet for next year despite a central election. Sectors which outperformed this year could underperform next year. But overall Indian stock indices should outperform its global peers.

US dollar-Indian Rupee 27^th December 2018 future (usd/inr CMP 71.3250):

One Support: 71.1825
One Resistance: 71.6225

o      Small sell off will be there below 71.2875 and crash below 71.1825.

o      Key support till Thursday is at 71.0450. There can be pullback rallies as long as usd/inr trades over 71.0450.

Euro/Indian Rupee 27^th December 2018 Futures (Euro/inr CMP 81.0875):
One Support: 80.8950-80.0125
One Resistance: 81.3325

o      Small sell off will be there below 81.0125.

o      Crash will be there below 80.8950.

o      There can be very sharp two way moves.

o      Euro/inr needs to trade over 81.3325 to be in intraday bullish zone.

UK Pound/Indian Rupee 27^th December 2018 Futures (Gbp/inr CMP 90.1675):
One Support: 89.9425-90.0750
One Resistance: 90.3425

o      Crash will be there only below 89.7550.

o      Small sell off will be there below 90.0750.

o      Gbp/inr needs to trade over 90.3450 to be in intraday bullish zone.

o      There can be very sharp two way moves.

Japanese Yen/Indian Rupee 27^th December 2018 Futures (Jpy/inr CMP 63.4825):
One Support: 63.3225
One Resistance: 63.6050

o      Yen is bullish and can rise to 63.6725 and 63.9975 as long as it trades over 63.20-63.30 zone.

o      Crash will be there below 63.2000.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto currency, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

Indian Standard Time (IST): +5:30 GMT

Current Market Price (CMP)

All foreign exchange prices are for inter-bank rates.

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