NSE Currency Futures Report : 22nd Freruary 2019

Insignia Consultants

New Delhi

Friday, February 22, 2019

TIME: 9:26 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

There will be position squaring and rebuilding for next month as futures close next week. In March, demand will be the key. Global bond market is expected to remain stable in March. Inflows from foreign portfolio inflows will affect the rupee more than inflows in bond markets. The US-China trade deal once it is known will also have an impact on US dollar Index and Asian currencies.

US dollar-Indian Rupee 26^th February 2019 future (usd/inr CMP 71.2225):

One Support: 71.1225
One Resistance: 71.4275

o      Usd/inr can rise to 71.4275 and 71.5225 as long as it trades below 71.1225.

o      Sellers will be there below 71.1225.

Euro/Indian Rupee 26^th February 2019 Futures (Euro/inr CMP 80.8575):
One Support: 80.6950
One Resistance: 80.9475

o      Crash will be there only below 80.6950.

o      If euro/inr does not fall below 80.6950 (till Monday), then it will rise to 81.1050 and 81.5050.

UK Pound/Indian Rupee 26^th February 2019 Futures (Gbp/inr CMP 92.8650):
One Support: 92.6025
One Resistance: 93.0325

o      Gbp/inr can rise to 93.0225 and 93.6950 (by Monday) as long as it trades over 92.6025.

o      Small sell off will be there below 92.6025.

Japanese Yen/Indian Rupee 26^th February 2019 Futures (Jpy/inr CMP 64.3400):
One Support: 64.2225
One Resistance: 64.5725

o      Only a break of 64.5725 will trigger sell stops and a rise to 65.1375.

o      Small sell off will be there below 64.2225.

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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