NSE Currency Futures Report : 21st June 2019

Insignia Consultants

New Delhi

Friday, June 21, 2019

TIME: 9:09 am IST

         

NSE CURRENCY FUTURES REPORT

There will be position squaring and rebuilding for next month. Union budget on 5^th July and US June nonfarm payrolls also on 5^th July will be closely watched. Trump-Xi meeting to diffuse the US-China trade war and its outcome will be closely watched. June future expiry next week will also increase volatility. Momentum is bearish for the US dollar. It remains to be seen if the same continues today also. Indian rupee has not gained significantly against the US dollar on weak fundamentals and lack of progress of monsoon rains. I prefer to buy some near dated put options in the usd/inr.

CURRENCY SPOT TECHNICAL LEVELS
	USD/INR	EURO/INR	GBP/INR	JPY/INR
CMP	69.7550	78.8675	88.6800	65.1075
S5	69.1750	77.8525	87.8325	64.3725
S4	69.2446	78.0415	88.0025	64.6500
S3	69.3308	78.2463	88.1975	64.7375
S2	69.4950	78.3392	88.4250	64.8075
S1	69.6075	78.4542	88.5550	64.9625
R1	69.8050	78.9408	88.8625	65.1575
R2	69.7275	79.0338	88.9850	65.2850
R3	70.0600	79.2385	89.1650	64.5250
R4	70.1250	79.4275	89.4450	65.7050
R5	70.3700	79.7075	89.6900	65.8900
ALL PRICES VERSUS THE INDIAN RUPEE ABOVE
CMP = Current Market Price
FOR SMALL TRADING/JOBBING PURPOSE
ABOVE TECHNICALS ARE ONLY FOR REFERENCE

USD/INR:  Trend is down as long as usd/inr trades below 69.7700 with 69.2950 and 69.0350 as price target. Only a break of 69.7700 will result in rise.

EURO/INR: (a) It needs to trade over 78.3300 till Monday to rise to 79.2300 and 80.6700. (b) Bearish trend will be there below 78.3300 today.

GBP/INR: (a) Cable needs to trade over 88.6975 to rise to 89.7150 and 90.2350 by next week. (b) Overall trend is up as long as cable trades over 88.0050.

JPY/INR: (a) 100% retracement is at 65.0800. Only a break of 65.0800 will trigger another wave of rise to 65.6800 and 65.9000. (b) Key support 64.6125.

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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