Insignia Consultants
New Delhi
Wednesday, 13 November
2019
TIME
9:35AM IST
----------------------------------------------------------------------------------------------------------------
NSE CURRENCY
FUTURE DAILY REPORT
Every economic data released in November, points to
a pathetic state of the Indian economy. I am not going scratch every detail. It
is better to give a general view. Fuel consumption, the best guage of economic
progress fell in October. Remember, that October was a festival month. Rupee
has to weaken against the major currencies. India is less dependent on exports
for growth. So, the government cannot blame global factors as a cause for
slowdown. NDA government since 2014 has preferred global investors with cheap
money to invest in India. (Global bond yields are near zero). They have entered
sectors which have since Independence were managed to very small and tiny
enterprises and unorganized sector. The net results massive unemployment in
unorganized sector.
2019 has been very tough. 2020 can be worse for the
Indian economy if the theme of global trade war continues. Every year new youth
come into the jobs market. The government needs some serious measures on war
scale for jobs. “Acche din” is gone.
“Buuree din” is the right phrase for India under NDA with regards to jobs
creation.
Federal Reserve chairman’s testimony tonight can be
trend changing. Low risk traders do not leave any open positions for tomorrow.
|
NSE CURRENCY FUTURE -- NOVEMBER
FUTURE
|
||||||
|
US DOLLAR-INDIAN RUPEE Current Price
|
₹ 71.8000
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 70.6100
|
₹ 71.2050
|
₹ 71.5192
|
|
₹ 72.0808
|
₹ 72.3950
|
₹ 72.9900
|
|
EURO-INDIAN RUPEE Current Price
|
₹ 79.1600
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 78.5250
|
₹ 78.8425
|
₹ 79.0101
|
|
₹ 79.3099
|
₹ 79.4775
|
₹ 79.7950
|
|
UK POUND-INDIAN RUPEE Current Price
|
₹ 92.2300
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 91.1525
|
₹ 91.6913
|
₹ 91.9757
|
|
₹ 92.4843
|
₹ 92.7688
|
₹ 93.3075
|
|
JAPANESE YEN-INDIAN RUPEE Current
Price
|
₹ 65.8750
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 65.0525
|
₹ 65.4638
|
₹ 65.6809
|
|
₹ 66.0691
|
₹ 66.2863
|
₹ 66.6975
|
|
All technical are for reference only
|
||||||
1. USD/INR
NOVEMBER 2019: (a) Rupee needs to trade
over 71.7525 till Friday to rise to 72.1325. Sell off will be there below 71.7525.
2. EURO/INR
NOVEMBER 2019: (a) Trend is down as long
as euro/inr trades below 79.1850 with 79.0050 and 78.8525 as price target. (b)
Euro/inr needs to trade over 79.1850 to rise to 79.5175 and more.
3. GBP/INR
NOVEMBER 2019: (a) Pound can rise to 92.5175
and 92.8850 as long as it trades over 92.1225. (b) Key price to watch till
Friday is at 92.1225. Sell off will be there below 92.1225.
4. JPY/INR
NOVEMBER 2019: (a) It needs to trade
over 65.8075 to rise to 66.0025 and 66.1475. (b) Crash will be there below
65.8075.
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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