NSE Currency Futures Report : 2nd May 2019

NSE Currency Futures Report : 2nd May 2019

Insignia Consultants

New Delhi

Thursday, May 2, 2019

TIME: 9:30 am IST

         

NSE CURRENCY FUTURES REPORT

Traders will start taking positions for tomorrow’s US April nonfarm payrolls. FOMC is over. Bunched up supplies and bunched up demand if any will be the key till tomorrow. There will be short covering if rupee weakens against the US dollar.

US dollar-Indian Rupee 29^th May 2019 future (usd/inr CMP 69.8150):

One Support: 69.6925
One Resistance: 69.9650

o      Only a break of 69.9650-70.0250 will trigger another wave of rise to 70.3350 and more.

o      Sell off will be there below 69.6925

o      There can be very sharp two way moves till tomorrow.

Euro/Indian Rupee 29^th May 2019 Futures (Euro/inr CMP 78.4450):
One Support: 78.3050
One Resistance: 78.6750

o      Overall trend is down as long as euro/inr trades below 78.6750

o      Crash will be there below 78.3050.

UK Pound/Indian Rupee 29^th May 2019 Futures (Gbp/inr CMP 91.2650):
One Support: 91.0650
One Resistance: 91.5450

o      Gbp/inr can rise to 91.5450 and 91.7000 as long as it trades over 91.0650.

o      Sell off will be there below 91.0650.

Japanese Yen/Indian Rupee 29^th May 2019 Futures (Jpy/inr CMP 62.7175):
One Support: 62.5850
One Resistance: 62.9650

o      Yen can rise to 63.0350 and then fall to 62.4950.

o      Overall trend is up as long as yen/inr trades over 62.4950.

PLEASE NOTE

We DO NOT have a live trading call service for NSE currency futures. We do advise exporters. Importers and corporates in managing their currency risk exposure.

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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