NSE Currency Futures Report : 7th March 2019

Insignia Consultants

New Delhi

Thursday, March 7, 2019

TIME: 9:36 am IST

         

NSE CURRENCY FUTURES  REPORT

European central bank meeting can have an impact on euro. Tomorrow’s US nonfarm payrolls will have a limited impact on US dollar. The recent consolidation phase in the US dollar Index will be over soon. Buy stop losses will be triggered if rupee March falls below 70.0000 against the US dollar. There could be another wave of sell off below 70.0000. I expect a big gap between today’s close and tomorrow’s open.

US dollar-Indian Rupee 27^th March 2019 future (usd/inr CMP 70.1700):

One Support: 70.0800
One Resistance: 70.2850

o      Only a break of 70.2850 will result in 70.6350 and 70.8350 and more.

o      Sell off will be there below 70.0800.

Euro/Indian Rupee 27^th March 2019 Futures (Euro/inr CMP 79.4925):
One Support: 79.3325
One Resistance: 79.6125

o      Crash or another wave of sell off will be there below 79.3325.

o      Euro/inr needs to trade over 79.60-79.70 zone to rise further.

UK Pound/Indian Rupee 27^th March 2019 Futures (Gbp/inr CMP 92.5950):
One Support: 92.4675
One Resistance: 92.7850

o      Gbp/inr needs to trade over 92.4675 to rise to 92.7850 and 93.1025.

o      Another wave of sell off will be there below 92.4675.

Japanese Yen/Indian Rupee 27^th March 2019 Futures (Jpy/inr CMP 62.9275):
One Support: 62.8025
One Resistance: 63.0400.

o      Jpy/inr needs to trade over 63.0400 to be in intraday bullish zone.

o      Crash will be there below 62.8025.

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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