Insignia Consultants
New Delhi
Thursday, January 24, 2019
TIME: 9:21 am IST
NSE CURRENCY FUTURES DAILY REPORT
No much news for the markets to digest. News flows will be the
key. Pound is bullish. Euro and yen are in a neutral zone. There will be
position squaring and rebuilding as January future comes to a close next week.
February will be an uncertain month for Indian currency markets as well as
Indian bond markets. Direction of crude oil is the only global factor which can
have effect on usd/inr moves till Monday.
US dollar-Indian Rupee 29th January 2019 future (usd/inr CMP 71.2625):
One Support: 71.0850One Resistance: 71.5200
o
Small
sell off will be there below 71.2425
o
Key
support is at 71.0850.
o
Crash
or sell off will be there if rupee does not break 71.6775 by 29th
January.
Euro/Indian Rupee 29th
January 2019 Futures (Euro/inr CMP 81.2000): One Support: 81.0425
One Resistance: 81.4925
o
Small
sell off will be there below 81.0450.
o
However
in case euro/inr manages to trade over 81.0450, then it will rise to 81.4925
and 81.7975.
o
Trend
is neutral.
UK Pound/Indian Rupee 29th
January 2019 Futures (Gbp/inr CMP 93.1750): One Support: 92.9525
One Resistance: 93.6025
o
92.7925
price target achieved yesterday.
o
Pound
can rise to 93.6025 and 94.2525 by next week by Monday as long as it trades
over 92.6450.
o
Small
sell off will be there below 92.9525.
o
One
needs to keep on booking profits (on long positions) as long as 93.6025 is not
broken.
Japanese Yen/Indian Rupee 29th
January 2019 Futures (Jpy/inr CMP 65.0975): One Support: 64.9625
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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