Insignia Consultants
New Delhi
Tuesday, 22 October 2019
TIME
9:18AM IST
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NSE CURRENCY
FUTURE DAILY REPORT
Exit polls suggest a victory for NDA in Maharashtra
and Haryana elections. Actual result and margin of victory will also affect
rupee. Modiji/NDA government has stated it’s intend of selling almost all
public sector units. They have decide to open up the foreign direct investment
(FDI) limit in almost all sectors. Inflows will not be an issue for the rupee.
Measures to spruce up demand and employment takes time. Global sentiment
towards India and emerging markets play a key role in short term hot money
flows. Rupee should appreciate against the US dollar, unless US dollar Index
zooms.
Brexit talks and US-China trade talks and FOMC meet
next week, all will affect currencies.
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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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70.9250
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79.0950
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92.0200
|
65.3100
|
|
S5
|
70.2450
|
78.1700
|
90.8525
|
64.6000
|
|
S4
|
70.4750
|
78.4532
|
91.2550
|
64.7400
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S3
|
70.7225
|
78.7600
|
91.6400
|
64.9500
|
|
S2
|
70.8325
|
78.8992
|
91.7650
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65.1775
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|
S1
|
70.9075
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79.0715
|
91.9050
|
65.2800
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|
|
|
|
|
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R1
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71.0775
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79.3500
|
92.4275
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65.4025
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R2
|
71.2000
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79.6285
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92.6500
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65.6150
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R3
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71.4250
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79.8008
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92.9850
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65.8225
|
|
R4
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71.5650
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79.9400
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93.0925
|
65.9450
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R5
|
71.8150
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80.2468
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93.7350
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66.0525
|
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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 70.2000 is high as long as this week’s high of 71.1500 is not
broken. (b) Rupee needs to trade over 71.1500 till Friday to be in bullish
zone.
2. EURO/INR
OCTOBER 2019: (a) It can rise to 79.5500
as long as it trades over 78.6975. (b) Short term bearish trend will be there
only if 78.6975 is not broken.
3. GBP/INR
OCTOBER 2019: (a) Previous week close of
91.6400 is now the support. (b) Gbp/inr can rise to 93.3075 this week as long
as it trades over 91.6400. (c) Crash or sell off will be there below 91.6400.
4. JPY/INR
OCTOBER 2019: (a) 100 day moving average
at 65.3500 is the key price to watch. (b) Crash will be there below 65.3500 to
64.5500.
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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