NSE Currency Futures Report : 13th March 2019

Insignia Consultants

New Delhi

Wednesday, March 13, 2019

TIME: 9:39 am IST

         

NSE CURRENCY FUTURES  REPORT

Pound will be very volatile. RBI will not intervene to prevent more gains against the US dollar. There will be demand at lower prices from corporates. Yen looks slightly bullish against the rupee. Volatility in all currencies will rise till the Holi. Higher inflation is just the beginning in India. The cyclical period of low inflation is over. Inflation and summer heat have a direct correlation in India.

US dollar-Indian Rupee 27^th March 2019 future (usd/inr CMP 69.8325):

One Support: 69.6650
One Resistance: 70.0450

o      Overall trend is down as long as usd/inr trades below 70.0450 with 69.5025 as price target.

o      Only a break of 70.0450 will trigger another wave of rise.

Euro/Indian Rupee 27^th March 2019 Futures (Euro/inr CMP 78.9350):
One Support: 78.7500
One Resistance: 79.1000

o      Euro/inr can rise to 79.1000 and 79.2825 as long as it trades over 78.7500.

o      Crash will be there only below 78.7500.

UK Pound/Indian Rupee 27^th March 2019 Futures (Gbp/inr CMP 91.5175):
One Support: 91.3875
One Resistance: 91.8225

o      Gbp/inr can rise to 91.8275 and 92.2650 by Friday as long as it trades over 90.1500.  

o      Crash will be there only below 91.1500.

Japanese Yen/Indian Rupee 27^th March 2019 Futures (Jpy/inr CMP 62.8650):
One Support: 62.7050
One Resistance: 63.0075.

o      Key resistance is at 63.0075.

o      Jpy/inr needs to trade over 63.0075 till Friday to rise to 63.4050 and 63.9050.

o      Crash will be there below 62.5225.

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
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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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