Insignia Consultants
New Delhi
Thursday, 05 September
2019
TIME
9:17AM IST
----------------------------------------------------------------------------------------------------------------
NSE CURRENCY
FUTURE DAILY REPORT
Cable rose after UK Prime
Minister Boris Johnson was humiliated in his defeat of a no brexit deal.
Political situation in UK will be closely watched. Euro is also over 1.1000. UK
August private ADP job numbers and other US economic data releases will be the
key. They need to beat street expectation to prevent a US dollar Index sell
off. Today’s opening fall in rupee against the US dollar is just profit taking.
Volatility will increase in rupee against the major currencies till Monday. Use
of higher trailing stop losses is the need of the hour for future traders.
Exporters and importers should hedge based on the cost of export/import.
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NSE CURRENCY FUTURE -- SEPTEMBER FUTURE
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USD/INR
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EURO/INR
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GBP/INR
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JPY/INR
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|
CMP
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72.0800
|
79.5800
|
88.2500
|
67.6450
|
|
S5
|
71.4825
|
78.1800
|
87.4525
|
66.4750
|
|
S4
|
71.6259
|
78.5160
|
87.6439
|
66.7558
|
|
S3
|
71.7813
|
78.8800
|
87.8513
|
67.0600
|
|
S2
|
71.8518
|
79.0452
|
87.9454
|
67.1981
|
|
S1
|
71.9390
|
79.2496
|
88.0618
|
67.3689
|
|
|
|
|
|
|
|
R1
|
72.2210
|
79.9104
|
88.4382
|
67.9211
|
|
R2
|
72.3082
|
80.1148
|
88.5546
|
68.0919
|
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R3
|
72.3788
|
80.2800
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88.6488
|
68.2300
|
|
R4
|
72.5341
|
80.6440
|
88.8561
|
68.5342
|
|
R5
|
72.6775
|
80.9800
|
89.0475
|
68.8150
|
|
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CMP= Current price market price
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ABOVE TECHNICALS ARE ONLY FOR REFERENCE
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1. USD/INR
SEPTEMBER 2019: Crash or another wave of
sell off will be there on a fall below 71.9650. View till Monday: Failure to
break and trade over 72.6650 by Monday will result in a fall to 71.4825 and
70.6750 by next week. Sentiment is very bullish.
2. EURO/INR
SEPTEMBER 2019: 200 day moving average
at 79.4900 is the key support. Euro/inr needs to trade over 79.4900 to rise to
79.7400 and 80.2800.
3. GBP/INR
SEPTEMBER 2019: Cable can rise to
88.8300 and 89.0450 by Monday as long as it trades over 88.0650. Crash or sell
off will be there only on a fall below 88.0650.
4. JPY/INR
SEPTEMBER 2019: Crash will be there only
below 67.4725. Yen/inr may have formed a short term top at 68.6150 on Tuesday.
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.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in
India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
SPECIFIED
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us on Twitter @insigniaconsul1
PLEASE
NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE
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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