NSE Currency Futures Report : 11th March 2019

Insignia Consultants

New Delhi

Monday, March 11, 2019

TIME: 9:20 am IST

         

NSE CURRENCY FUTURES  REPORT

Central elections dates have been announced. Peak summer will prevent high voter turnout. I see a non BJP government at the centre as a low voter turnout always support congress and seat losses for the BJP/NDA. US dollar has not been dumped after the pathetic US February nonfarm payrolls. Low US unemployment rate and cyclical are reason for US dollar getting slightly weaker.

Just trade in the technical today. There will be position squaring and rebuilding for month end now as there are no key economic data risk now.

US dollar-Indian Rupee 27^th March 2019 future (usd/inr CMP 70.1250):

One Support: 69.9125-70.0475
One Resistance: 70.2850

o      Only a break of 70.2850 will result in 70.4750 and more.

o      Key weekly support is at 69.9125. Crash will be there only below 69.9125.

Euro/Indian Rupee 27^th March 2019 Futures (Euro/inr CMP 78.9075):
One Support: 78.6750
One Resistance: 79.2500

o      Euro/inr can rise to 79.5725 as long as it trades over 78.6750.

o      Crash will be there only below 78.6750.

UK Pound/Indian Rupee 27^th March 2019 Futures (Gbp/inr CMP 91.1075):
One Support: 90.8850
One Resistance: 91.3250

o      Gbp/inr needs to trade over 90.9500-91.0500 zone to rise to 91.5025 and 91.6275.

o      Another wave of sell off will be there below 91.9850.

Japanese Yen/Indian Rupee 27^th March 2019 Futures (Jpy/inr CMP 63.2175):
One Support: 63.1025
One Resistance: 63.5650.

o      Jpy/inr can rises to 62.7575 this week as long as it trades over 63.1025.

o      Crash will be there below 63.1025.

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)

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