Insignia Consultants
New Delhi
Friday, January 18, 2019
TIME: 9:15 am IST
NSE CURRENCY FUTURES DAILY REPORT
It is cautious trade today. Pound is bullish. Euro will be very
volatile. Yen looks bearish. Rupee needs to break key resistances against the
US dollar to rise. There can be period of sideways trade followed by sudden one
way moves in usd/inr. Domestic news will be the key today.
US dollar-Indian Rupee 29th January 2019 future (usd/inr CMP 71.2750):
One Support: 71.1175One Resistance: 71.3675
o
Small
sell off will be there below 71.1775
o
Immediate
resistance is at 71.3650. Only a break of 71.350 will trigger another wave of
rise to 71.5400.
o
I
will prefer to take a chance and use a sell on rise strategy with a stop loss
over 71.7675 for next week.
Euro/Indian Rupee 29th
January 2019 Futures (Euro/inr CMP 81.1775): One Support: 81.0950
One Resistance: 81.4450
o
Euro/inr
needs to trade over 80.9525 till next week to rise to 81.7450 and 82.2275.
o
Small
sell off will be there below 81.1400.
o
Quick
rise will be there only over 81.3275.
UK Pound/Indian Rupee 29th
January 2019 Futures (Gbp/inr CMP 92.2000): One Support: 92.0750
One Resistance: 92.6350
o
92.1525
target achieved.
o
100%
retracement is at 92.6350.
o
There
will be another wave of rise over 92.6350 to 92.8950 and 93.4300.
o
Overall
trend is bullish as long as gbp/usd trades over 92.0750.
Japanese Yen/Indian Rupee 29th
January 2019 Futures (Jpy/inr CMP 65.2175): One Support: 65.1425
One Resistance: 65.4175
o
Crash
will be there below 65.1425 to 64.8675.
o
Yen/inr
needs to break and trade over 65.4175 to be in intraday bullish zone.
o
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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