NSE Currency Futures Report : 9th July 2019

Insignia Consultants

New Delhi

,TIME: 9:09 am IST         

         

NSE CURRENCY FUTURES REPORT  Tuesday, July 9, 2019

Direction of the stock markets will be the key for the rupee after the beating yesterday. Clarification of taxation will be closely watched. Global factors will dictate more than domestic factors. Rise in fuel prices after the budget will be inflationary in nature.

A global slowdown and interest rate cut cycle by central banks will result in huge foreign inflows in Indian stock markets as well as Indian bond yields. GDP growth in India will slow but will still be better than most Asian peers.

NSE CURRENCY FUTURE TECHNICAL LEVELS
	USD/INR	EURO/INR	GBP/INR	JPY/INR
CMP	68.8675	77.3900	86.3000	63.4325
S5	68.5025	76.5325	85.5650	62.7550
S4	68.5901	76.7383	85.7414	62.9176
S3	68.6850	76.9613	85.9325	63.0938
S2	68.7281	77.0624	86.0192	63.1737
S1	68.7814	77.1876	86.1265	63.2726
R1	68.9536	77.5924	86.4735	63.5924
R2	69.0069	77.7176	86.5808	63.6913
R3	69.0500	77.8188	86.6675	63.7713
R4	69.1449	78.0417	86.8586	63.9474
R5	69.2325	78.2475	87.0350	64.1100
ALL PRICES VERSUS THE INDIAN RUPEE ABOVE
CMP = Current Market Price
FOR SMALL TRADING/JOBBING PURPOSE
ABOVE TECHNICALS ARE ONLY FOR REFERENCE

USD/INR:  (a) 100% retracement is at 68.4000. (b) There can be very sharp pullback rallies as long as rupee trades over 68.4000 to 69.3175 and 69.6650.

EURO/INR: (a) Euro/inr needs to trade over 77.2800 to rise to 77.7075 and 78.3250. (b) Sell off will be there below 77.2800. (c) If euro/inr trades below 77.2800 on Friday (after the semi annul testimony of Federal Reserve chairman), then it will fall to 76.1375.

GBP/INR: (a) It needs to trade over 85.9700-86.0050 till Friday to rise to 87.0350 and 87.6650. (b) Trend is down. But another wave of sell off will be there below 85.9700.

JPY/INR: (a) Key support is at 63.3525. Crash will be there below 63.3525 to 63.0950. (b) Yen/inr needs to trade over 63.6925 to be in bullish zone.

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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