Nse Currency Futures Report : 17th January 2019

Insignia Consultants

New Delhi

Thursday, January 17, 2019

TIME: 9:28 am IST        

         

NSE CURRENCY FUTURES DAILY REPORT

Fundamentals are bearish for the rupee. Global factors are volatile. Brexit and its future and US government shutdown are the news which is affecting traders. US dollar is getting the benefit of doubt of brexit uncertainty. There can be very sharp two way moves. Monday US markets are closed. Traders will take positions for Tuesday.

US dollar-Indian Rupee 29^th January 2019 future (usd/inr CMP 71.2875):

One Support: 71.1375
One Resistance: 71.4725

o     Small sell off will be there below 71.1375

o     Immediate resistance is at 71.4725. Only a break of 71.4725 will trigger another wave of rise.

o     I will prefer to take a chance and use a sell on rise strategy with a stop loss over 71.6775.

Euro/Indian Rupee 29^th January 2019 Futures (Euro/inr CMP 81.1675):
One Support: 81.0675
One Resistance: 81.5625

o     Euro/inr can fall to 81.0675 and 80.7675 as long as it trades below 81.4225.

o     Quick rise will be there only over 81.4225.

UK Pound/Indian Rupee 29^th January 2019 Futures (Gbp/inr CMP 91.7050):
One Support: 91.4825
One Resistance: 91.9625

o     Gbp/inr can rise to 92.1525 as long as it trades over 91.4875.

o     Small sell off will be there below 91.4875.

Japanese Yen/Indian Rupee 29^th January 2019 Futures (Jpy/inr CMP 65.5000):
One Support: 65.2650
One Resistance: 65.660

o     Yen/inr can fall to 65.2650 and 65.0575 as long as it trades below 65.6600.

o     Intraday trend is down at the moment.

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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