Insignia Consultants
New Delhi
Wednesday, 16 October 2019
TIME
9:34AM IST
----------------------------------------------------------------------------------------------------------------
NSE CURRENCY
FUTURE DAILY REPORT
I am tempted to write on the rupee today. I am not
giving the technical levels. IMF has reduced India’s growth forecast. I believe
that lower growth has already been factored in by the currency markets as well
as bond markets. Export-Import numbers also suggest caution among importers. India
has yet to take off import substitution (manufacturing) measures in a big way.
Bright Brexit chances by the month end has resulted in UK pound galloping since
last Friday. Euro is getting weighed down by fundamentals.
1. USD/INR
OCTOBER 2019: (a) Key support is at
71.5275. (b) It can rise to 71.8875 and 72.1550 by tomorrow as long as it
trades over 71.5275. (c) Sellers will be there only below 71.5275.
2. EURO/INR
OCTOBER 2019: (a) Key resistance is at
79.3900. A break of 79.3900 will pave the way for 79.6000 and 79.7950.(b)
Sellers will be there only below 79.0700 today to 78.9125 and below.
3. GBP/INR
OCTOBER 2019: (a) Gbp/inr can rise to
92.0600 as long as it trades over 91.2525. (d) Sellers will be there below
91.2525. Crash till Friday will be there only below 90.7575.
4. JPY/INR
OCTOBER 2019: (a) Yen needs to trade
over 65.9950 to rise to 66.2850 and 66.4950. (b) Crash will be there below
65.9950.
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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