Insignia Consultants
New Delhi
Wednesday, February 13, 2019
TIME: 9:23 am IST
NSE CURRENCY
FUTURES DAILY REPORT
Exporters will be using every rise to hedge their receivables as
the rupee is below 71.00 against the US dollar. It remains to be seen how long
the trend last. Election related spending boosts every nation’s economy. Global
investors expect consumer spending in India to rise before the elections. Pro
farmer policy is also expected to boost rural demand. Volatility will rise
month the week progresses and month progresses. Short sellers need to be very
careful.
US dollar-Indian Rupee 26th February 2019 future (usd/inr CMP 70.5575):
One Support: 70.2400One Resistance: 70.7250
o
200
day moving average around 70.2400 is the key support.
o
Usd/inr
needs to trade over 70.2400 till future close to rise to 70.9650 and 71.2700.
o
Crash
or another wave of sell off will be there below 70.2400.
Euro/Indian Rupee 26th
February 2019 Futures (Euro/inr CMP 80.1325): One Support: 79.9650
One Resistance: 80.4000
o
Small
sell off will be there below 79.9650.
o
Overall
trend is down as long as euro/inr trades below 80.4000.
o
Use
any 70-80 paisa fall (if any) to go long till future close with a stop loss
below 79.1075.
UK Pound/Indian Rupee 26th
February 2019 Futures (Gbp/inr CMP 91.1500): One Support: 90.9450
One Resistance: 91.5325
o
Watch
91.000. This is the key long term support/resistance.
o
Gbp/inr
can move 100-150 paisa either side from 91.0000.
o
(a)
Crash will be there if gbp/inr trades below 91.0000 to 90.5100 and 89.7650. (b)
In case gbp/inr trades over 91.0000, then chances of 91.8800 and 92.5275 in the
short term will be very high.
Japanese Yen/Indian Rupee 26th
February 2019 Futures (Jpy/inr CMP 63.8575): One Support: 63.6000 (200 day moving average)
One Resistance: 64.1000 (100 day moving average)
o
Key
long term support is at 63.4000.
o
At
the moment trend is down. There can be very sharp pullback rallies as long as
yen/does not fall below 63.4000 to 65.1400.
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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