NSE Currency Futures Report : 26th Freruary 2019

Insignia Consultants

New Delhi

Tuesday, February 26, 2019

TIME: 9:24 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

So far Indian markets have not reacted to reports of air strikes by the Indian airforce on terrorist dens in Pakistan Occupied Kashmir. There will be moves once news is clear. Fundamentally rupee is bearish against the US dollar. FOMC testimony today and tomorrow and US economic data releases will affect the greenback till tomorrow.

US dollar-Indian Rupee 27^th March 2019 future (usd/inr CMP 71.5675):

One Support: 71.1600
One Resistance: 71.5950

o      Usd/inr needs to trade over 71.5950 to rise to 71.7675 and 72.0050.

o      Sellers will be there below 71.3650.

o      Crash will be there only below 71.1600.

Euro/Indian Rupee 27^th March 2019 Futures (Euro/inr CMP 81.4600):
One Support: 81.0875
One Resistance: 81.9675

o      Euro/inr can rise to 82.9950 by next week as long as it trades over 81.0875

o      Seller will be there only below 81.0875.

UK Pound/Indian Rupee 27^th March 2019 Futures (Gbp/inr CMP 94.1000):
One Support: 93.8975
One Resistance: 94.2400

o      There is a massive technical resistance between 94.2400-94.5600.

o      Only a break of 94.2400-94.5600 will result a rise to 95.0000 and 95.9700.

o      Sellers will be there below 93.8975.

Japanese Yen/Indian Rupee 27^th March 2019 Futures (Jpy/inr CMP 64.7025):
One Support: 64.4975
One Resistance: 64.8150

o      Only a break of 64.8150 will trigger sell stops and a rise to 65.1375.

o      Small sell off will be there below 64.4975.

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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