Nse Currency futures Report: 14th February 2019

Insignia Consultants

New Delhi

Thursday, February 14, 2019

TIME: 9:48 am IST        

         

NSE CURRENCY FUTURES DAILY REPORT

It’s all about fiscal year closing and central elections for rupee against the US dollar. Rupee will be under renewed pressure to depreciate if crude oil prices zoom on Venezuela. I will be watching global crude oil prices. If crude oil prices continues to rise till the Lok sabha elections, then chances of NDA not getting re-elected will be very high. Crude oil price trend (till May) will be the key for rupee from all angles. US dollar is strong against the majors as it getting the benefit of a safe haven status.

US dollar-Indian Rupee 26^th February 2019 future (usd/inr CMP 70.9400):

One Support: 70.7275
One Resistance: 71.0550

o     Only a break of 71.0550 will attract short covering and a rise to 71.1975 and 71.3750.

o     Crash or another wave of sell off will be there below 70.7275.

Euro/Indian Rupee 26^th February 2019 Futures (Euro/inr CMP 80.1200):
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.

UK Pound/Indian Rupee 26^th February 2019 Futures (Gbp/inr CMP 91.3500):
One Support: 91.1050
One Resistance: 91.5325

o     Gbp/inr can rise to 91.5325 and 91.7600 as long as it trades over 91.1050.

o     Small sell off will be there below 91.1050.

Japanese Yen/Indian Rupee 26^th February 2019 Futures (Jpy/inr CMP 63.9700):
One Support: 63.6000 (200 day moving average)
One Resistance: 64.1000 (100 day moving average)

o     There will be another wave of rise over 64.10 to 64.30 and 64.76.

o     Small sell off will be there below 63.8250.

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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