NSE Currency Futures Report : 15th January 2019

Insignia Consultants

New Delhi

Tuesday, January 15, 2019

TIME: 9:08 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

Key technical resistances need to be broken today for rupee against the major currencies to start another wave of rise. There will be very sharp correction in case these resistances are not broken. Chances of an interest rate cut are high on low inflation in December. India generally does through a period of cyclical period of low inflation from December to March. Inflation gradually rises from April just like the summer heat. Interest rate cut (if any) will be a one off move unless global crude oil prices stay at current levels for a long period of time. Globally Brexit news and its impact will be the key.

US dollar-Indian Rupee 29^th January 2019 future (usd/inr CMP 70.9375):

One Support: 70.8075
One Resistance: 71.1675

o      Small sell off will be there below 70.8925.

o      Crash will be there below 70.7425.

o      Usd/inr needs to trade over 71.0050-71.1050 zone to rise further.

Euro/Indian Rupee 29^th January 2019 Futures (Euro/inr CMP 81.5525):
One Support: 81.3225
One Resistance: 81.7675

o      Euro/inr needs to trade over 81.3225 to rise to 81.9075.

o      Small sell off will be there only below 81.3225.

UK Pound/Indian Rupee 29^th January 2019 Futures (Gbp/inr CMP 91.5400):
One Support: 91.1025
One Resistance: 91.7200

o      Key support or key price to watch is at 91.3900

o      Key resistance is at 91.7200. Only a break of 91.7200 will trigger a rise to 91.9375 and 92.1400.

o      Small sell off will be there below 91.3900 and crash below 91.1025.

Japanese Yen/Indian Rupee 29^th January 2019 Futures (Jpy/inr CMP 65.4100):
One Support: 65.2800
One Resistance: 65.6300-65.9975

o      Only a break of 65.6300 will trigger a rise to 65.9525 and 66.1725

o      Small sell off will be there below 65.2800.

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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