NSE Currency Futures Report : 11th Freruary 2019

Insignia Consultants

New Delhi

Monday, February 11, 2019

TIME: 9:23 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

Global slowdown concerns are there. Indian stock markets and the rupee should outperform its global peers if there is a sustained global slowdown. The reason is downside risk to growth is limited as most business are focused on domestic demand and not on exports. However the period of low volatility should be over for the rupee against the US dollar.

US dollar-Indian Rupee 26^th February 2019 future (usd/inr CMP 71.38500):

One Support: 71.2400
One Resistance: 71.4700

o      Only a break of 71.4700 will trigger another wave of rise to 71.9700.

o      Initial support is at 71.2400. Small sell off will be there below 71.2400.

Euro/Indian Rupee 26^th February 2019 Futures (Euro/inr CMP 80.9475):
One Support: 81.7650
One Resistance: 80.9900

o      Euro/inr needs to trade over 81.9950 to be in intraday bullish zone and rise to 82.3900 and82.500.

o      Trend is down. But crash will be there below 80.7650.

UK Pound/Indian Rupee 26^th February 2019 Futures (Gbp/inr CMP 92.3575):
One Support: 92.2150
One Resistance: 92.6850

o      Small sell off will be there below 92.2150.

o      Crash will be there below 91.8800 (till future close).

o      Gbp/inr needs to trade over 92.5250 to be in intraday bullish zone.

Japanese Yen/Indian Rupee 26^th February 2019 Futures (Jpy/inr CMP 64.9925):
One Support: 64.7600
One Resistance: 65.1075

o      Crash will be there only below 64.7600.

o      Jpy/inr needs to trade over 65.1075 to rise further.

o      Be prepared for 150-200 paise one way move anytime till next Friday.

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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