Insignia Consultants
New Delhi
Friday, 18 October 2019
TIME
9:12AM IST
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NSE CURRENCY
FUTURE DAILY REPORT
Brexit, if passed by the UK parliament, can result
in gbp/inr rising to 95.00 in the short term. Inflows will reduce from next
week. Traders will take positions for Tuesday. Brexit will be the key for
global currency markets till next week. Euro/inr can also rise to 84.00 in the
short term if brexit is accepted by UK parliament and there is no opposition
among Eurozone members. Brexit has to be accepted by both sides.
Do not go by the online sale numbers. Discounts
offer by etailers will result in a closure of shops and dealers. Indirect unemployment
is also being created in India by excessive preference to etailers. Real
spending will be way below expectation. A Diwali spending will be followed by a
very long pause. So do not rejoice over Diwali sale numbers.
Demand-supply factors will dictate the rupee for
the next two weeks. I expect intraday volatility to rise. Day traders paradise.
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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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71.2225
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79.2675
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91.5325
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65.6600
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S5
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70.5950
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78.7500
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89.9375
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65.2175
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S4
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70.7414
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78.8688
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90.3149
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65.3195
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S3
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70.9000
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78.9975
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90.7238
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65.4300
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S2
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70.9720
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79.0559
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90.9093
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65.4802
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S1
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71.0610
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79.1282
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91.1389
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65.5422
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R1
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71.3490
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79.3618
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91.8811
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65.7428
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R2
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71.4380
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79.4341
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92.1107
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65.8049
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R3
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71.5100
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79.4925
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92.2963
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65.8550
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R4
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71.6686
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79.6212
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92.7051
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65.9655
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R5
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71.8150
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79.7400
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93.0825
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66.0675
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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) Chances of a
correction to 70.6225 and 70.2025 is high as long as this week’s high of
71.7975 is not broken.
2. EURO/INR
OCTOBER 2019: (a) It can rise to 79.7725
and 80.5650 by next week as long as it trades over 78.7675. (b) Small sell off
will be there below 79.0725.
3. GBP/INR
OCTOBER 2019: (a) Key long term
resistance is at 92.8950. (b) Overall trend is bullish as long as gbp/inr
trades over 91.2525. (c) Today watch 91.6550. Gbp/inr can move 70-80 paisa
either side from 91.6550.
4. JPY/INR
OCTOBER 2019: (a) Yen needs to trade
over 65.4250 to rise to 65.8650 and 66.1050. (b) Crash will be there below
65.4250.
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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