NSE Currency Futures Report : 16th January 2019

Insignia Consultants

New Delhi

Wednesday, January 16, 2019

TIME: 9:32 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

If rupee rises today, then there will be more short covering. Euro can fall further on slowdown concerns. Pound will be volatile. Global factors will dictate the rupee more than local factors today and tomorrow. Monday (21^st January), US markets are closed. Traders will start taking position for Tuesday as the week progresses.

US dollar-Indian Rupee 29^th January 2019 future (usd/inr CMP 71.0650):

One Support: 71.8675
One Resistance: 71.1975

o      Small sell off will be there below 70.9650

o      Crash will be there to 70.4075 and 70.1350 if usd/inr does not break 71.5225 by Monday.

o      Risk traders use a sell on rise strategy with a stop loss over 71.7150 for next week.

Euro/Indian Rupee 29^th January 2019 Futures (Euro/inr CMP 81.1450):
One Support: 81.0425
One Resistance: 81.4400

o      Euro/inr can fall to 81.0425 and 80.6425 as long as it trades below 81.4400.

o      Trend is down.

UK Pound/Indian Rupee 29^th January 2019 Futures (Gbp/inr CMP 91.3775):
One Support: 91.1625
One Resistance: 91.5225

o      Only a break of 91.4850 will trigger a rise to 91.7200 and 91.9925.

o      Small sell off will be there below 91.2550 and crash below 91.1625.

Japanese Yen/Indian Rupee 29^th January 2019 Futures (Jpy/inr CMP 65.5450):
One Support: 65.4150
One Resistance: 65.7350

o      Only a break of 65.8375 will trigger a rise to 66.0450 and 66.2525.

o      Small sell off will be there below 65.4650.

o      Trend is slightly bullish.

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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