NSE Currency Futures Report : 8th Freruary 2019

Insignia Consultants

New Delhi

Friday, February 8, 2019

TIME: 9:33 am IST

         

NSE CURRENCY FUTURES DAILY REPORT

RBI interest rate cut will prevent sharp weakness of rupee against the US dollar. US dollar Index has gained this week. Next Chinese markets are opening. Next week trend will be the key for US dollar Index and Asian currencies as well.

US dollar-Indian Rupee 26^th February 2019 future (usd/inr CMP 71.5300):

One Support: 71.4175
One Resistance: 71.7625

o      Rupee will break free from 71.00-72.00 wider trading range and form a new range till next week.

o      Sellers will be there only below 71.4175 today.

Euro/Indian Rupee 26^th February 2019 Futures (Euro/inr CMP 81.2700):
One Support: 81.0925
One Resistance: 81.3950

o      Crash will be there below 81.0925.

o      Euro/inr needs to trade over 81.3950 to rise further.

UK Pound/Indian Rupee 26^th February 2019 Futures (Gbp/inr CMP 92.6925):
One Support: 92.4750
One Resistance: 92.9025

o      Crash will be there below 92.3725

o      Gbp/inr needs to trade over 92.7475 to be in intraday bullish zone.

Japanese Yen/Indian Rupee 26^th February 2019 Futures (Jpy/inr CMP 65.2375):
One Support: 65.1475
One Resistance: 65.4325

o      Crash will be there only below 65.1475.

o      Jpy/inr needs to trade over 65.3300 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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