Insignia Consultants
New Delhi
Monday, 14 October 2019
TIME
9:07AM IST
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NSE CURRENCY
FUTURE DAILY REPORT
Columbus day holiday is in USA for forex markets.
Traders and world is assessing the impact of partial trade deal with USA.
Brexit and its end result will be the key. Last week’s rise in cable was mainly
due to short covering. If UK pound rises this week, then it will mark the
beginning of a rally till Christmas. Euro is also oversold. Euro needs some
positive news to attract short covering.
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NSE CURRENCY FUTURE -- OCTOBER 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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70.9675
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78.3550
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89.4225
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65.5800
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S5
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70.3975
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77.5850
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88.2650
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64.6200
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S4
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70.5500
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77.9850
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88.6650
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64.8864
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S3
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70.6800
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78.0675
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88.8350
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65.1750
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S2
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70.7875
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78.1350
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88.9975
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65.3060
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S1
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70.9025
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78.2750
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89.1575
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65.4680
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R1
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71.1275
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78.7625
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89.4750
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65.9920
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R2
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71.2331
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78.9106
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89.6050
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66.1540
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R3
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71.2984
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79.0022
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89.7550
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66.2850
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R4
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71.3525
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79.0763
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89.9575
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66.5736
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R5
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71.5750
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79.2394
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90.2800
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66.8400
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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
OCTOBER 2019: (a) Rupee can rise to 71.1250
and 71.5300 as long as it trades over 70.9000. (b) Sell off will be there below
70.9000.
2. EURO/INR
OCTOBER 2019: (a) 100 day moving average
around 78.4300 is the key resistance. Euro/inr needs to break and trade over
78.4300 to rise to 79.1300. (b) Crash will be there below 78.1100. Key support
is at 78.1100.
3. GBP/INR
OCTOBER 2019: (a) Key weekly support is
at two hundred day moving average of 89.4200. (b) Gbp/inr needs to trade over
89.4200 to rise to 90.2800. (c) Initial support is at 89.1500. Crash will be
there only if cable trades below 89.1500.
4. JPY/INR
OCTOBER 2019: (a) Yen needs to trade
over 66.1800 this week to be in bullish zone and rise to 67.2250 and 68.0200.
(b) Crash will be there below 66.1800.
Ex Reserve bank of India governor says that the
Indian economy is in shambles. Fiscal deficit management has been the key over
the past three decades. Every political party at the centre has failed in
managing fiscal deficit and not just the NDA under Modiji. Fundamentals are
still pointing towards a weaker rupee. Foreign investors will continue to invest
in India as it still has one the highest growth among nations. Real estate
non-performing assets (NPA) and other key NPA’s of most state run banks are
courtesy the Congress led UPA and not the past six years of BJP rule.
In the next two weeks, festival related inflows
will prevent any sharp weakness. Thereafter rupee trend will be demand led and
global economic certainty/uncertainty.
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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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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