Insignia Consultants
New Delhi
Thursday, 29 August 2019
TIME
9:57AM IST
----------------------------------------------------------------------------------------------------------------
NSE CURRENCY
FUTURE DAILY REPORT
Enlarged and enhanced
foreign direct investment (FDI) norms should result in sharp gains for the
rupee against the US dollar. However the norms favour foreign investors over
domestic investors. I have always been an advocate for some form of
protectionism to domestic entrepreneurs of small and tiny scale enterprises.
Modi 2.0 wants to kill the age old tradition of large pool of small and tiny
domestic entrepreneurs.
There is nothing on the
global front. A large buy order or sell order (if any) will increase intraday
volatility. September is quarter end as well as half year close. September is
also a pre festival month. Import demand or import payables will be on the
higher side. Imports from china is still cheap over domestic. I do not see any
significant decline from China before the festival month of October. Momentum
seems to be down for the rupee.
|
NSE CURRENCY FUTURE -- SEPTEMBER
FUTURE
|
||||
|
|
USD/INR
|
EURO/INR
|
GBP/INR
|
JPY/INR
|
|
CMP
|
72.1550
|
80.1250
|
88.1200
|
68.1950
|
|
S5
|
71.3350
|
78.9100
|
87.1500
|
67.4350
|
|
S4
|
71.5318
|
79.2016
|
87.3828
|
67.6174
|
|
S3
|
71.7450
|
79.5175
|
87.6350
|
67.8150
|
|
S2
|
71.8418
|
79.6609
|
87.7495
|
67.9047
|
|
S1
|
71.9615
|
79.8383
|
87.8911
|
68.0156
|
|
|
|
|
|
|
|
R1
|
72.3485
|
80.4117
|
88.3489
|
68.3744
|
|
R2
|
72.4682
|
80.5891
|
88.4905
|
68.4853
|
|
R3
|
72.5650
|
80.7325
|
88.6050
|
68.5750
|
|
R4
|
72.7782
|
81.0484
|
88.8572
|
68.7726
|
|
R5
|
72.9750
|
81.3400
|
89.0900
|
68.9550
|
|
|
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CMP= Current price market price
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|
ABOVE TECHNICALS ARE ONLY FOR
REFERENCE
|
||||
1. USD/INR
SEPTEMBER 2019: It can rise to 72.5650
by tomorrow as long as it trades over 71.9650.
2. EURO/INR
SEPTEMBER 2019: Euro/inr needs to trade
over 80.0225 to rise to 80.5850. Crash will be there below 80.0225
3. GBP/INR
SEPTEMBER 2019: Gbp/inr can rise to
88.7650 by tomorrow as long as it trades over 87.8950.
4. JPY/INR
SEPTEMBER 2019: Yen needs to trade over 68.0050
to rise to 68.3450 and 68.5500. Over brought. Sharp correction can happen
anytime.
Disclaimer: Any opinions as to the commentary, market
information, and future direction of prices of specific currencies, 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. All analyses used
herein are subjective opinions of the author and should not be considered as
specific investment advice. Investors/Traders must consider all relevant risk
factors including their own personal financial situation before trading.
Websitewww.insigniaconsultants.in. Prepared by
Chintan Karnani
Disclosure: Insignia consultants
or it employees do not have any trading positions on the trading strategies
mentioned above. Our clients do have positions on the trading strategies
mentioned in the above report.
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NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
SPECIFIED
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NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
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USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE
TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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