NSE Currency Futures Report : 23rd January 2019

Insignia Consultants

New Delhi

Wednesday, January 23, 2019

TIME: 9:28 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

Pound is bullish. Euro is neutral. Yen looks weak. Rupee can consolidate against the US dollar for some more time than most of us expect.

US dollar-Indian Rupee 29^th January 2019 future (usd/inr CMP 71.2800):

One Support: 71.1950
One Resistance: 71.4750

o      Small sell off will be there below 71.1950

o      Key support is at 71.0375.

o      Wider trading range is at 71.0375-71.1950-71.5250.

Euro/Indian Rupee 29^th January 2019 Futures (Euro/inr CMP 81.0575):
One Support: 80.9000
One Resistance: 81.2975

o      Crash will be there only below 80.9000.

o      However in case euro/inr manages to trade over 80.9000, then it will rise to 81.2975 and 81.4400.

o      Trend is neutral.

UK Pound/Indian Rupee 29^th January 2019 Futures (Gbp/inr CMP 92.3175):
One Support: 92.1950
One Resistance: 92.5975

o      Gbp/inr can rise to 92.5975 and 92.7925 as long as it trades over 92.1950.

o      Small sell off will be there below 92.1950.

Japanese Yen/Indian Rupee 29^th January 2019 Futures (Jpy/inr CMP 65.0050):
One Support: 64.9025
One Resistance: 65.3050

o      Yen/inr can fall to 64.8825 and 64.7000 as long as it trades below 65.1750.

o      Yen/inr needs to break and trade over 65.1750 to be in intraday bullish zone.

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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