Insignia Consultants
New Delhi
Monday, 04 November 2019
TIME
8:50AM IST
----------------------------------------------------------------------------------------------------------------
NSE CURRENCY
FUTURE DAILY REPORT
All the Indian economic data released last week
suggest a slower growth. Rupee will gain against the US dollar only due to its
global weakness and/or highest growth in a world of recession worry. Global
investors believe that next year Indian economic growth will be on the higher
side. They are investing in India and will continue to invest in India. In
2020, the Indo-Pak and Indo-China border situation, if it escalates, will
affect Indian rupee trend. No one is thinking of a small war with China and
Pakistan simultaneously. I am not ignoring it. Wars are fought on some pretext
or other in economic recession and not in economic expansion. Chinese and
Pakistani rulers can use war with India as a diversionary tactic from economic
recession. Keep a close watch on border issues with the neighbours.
Indian stock market zoomed last week. This week
will be real test for the bulls. If stock markets rise this week also, then
rupee should fall below 70.00 against the US dollar in the inter-bank market.
Big week for rupee. This will a data light week globally.
|
NSE CURERNCY FUTURE -- NOVEMBER
FUTURE
|
||||||
|
US DOLLAR-INDIAN RUPEE Current Price
|
₹ 70.9725
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 70.5200
|
₹ 70.7463
|
₹ 70.8657
|
|
₹ 71.0793
|
₹ 71.1988
|
₹ 71.4250
|
|
EURO-INDIAN RUPEE Current Price
|
₹ 79.3100
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 78.8000
|
₹ 79.0550
|
₹ 79.1896
|
|
₹ 79.4304
|
₹ 79.5650
|
₹ 79.8200
|
|
UK POUND-INDIAN RUPEE Current Price
|
₹ 91.9550
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 91.3475
|
₹ 91.6513
|
₹ 91.8116
|
|
₹ 92.0984
|
₹ 92.2588
|
₹ 92.5625
|
|
JAPANESE YEN-INDIAN RUPEE Current
Price
|
₹ 65.7800
|
|||||
|
S3
|
S2
|
S1
|
|
R1
|
R2
|
R3
|
|
₹ 65.0550
|
₹ 65.4175
|
₹ 65.6089
|
|
₹ 65.9511
|
₹ 66.1425
|
₹ 66.5050
|
|
All technical are for reference only
|
||||||
1. USD/INR
NOVEMBER 2019: (a) Usd/inr needs to
trade over 70.8650 to rise to 71.2275 and 71.4450.(b) Crash or sell off will be
there below 70.8650.
2. EURO/INR
NOVEMBER 2019: (a) It needs to trade
over 79.0200 this week to rise to 79.9250 and 80.2450. (b) Crash will be there
only below 79.0200.
3. GBP/INR
NOVEMBER 2019: (a) Pound can rise to 92.3150
and 92.7175 this week as long as it trades over 91.5950. (b) Crash will be
there below 91.5950 or in case 92.3150 is not broken.
4. JPY/INR
NOVEMBER 2019: (a) It needs to trade
over 65.6825 to rise to 66.0950 and 66.3975. (b) Crash will be there below 65.6825
to 65.4675 and 65.1625.
Low
risk traders and day traders need to keep on booking profit on all trades with
strict trailing stop loss. I will prefer to trade for intraday till Tuesday.
Short term trading and short term investing is preferable only from Wednesday.
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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us on Twitter @insigniaconsul1
PLEASE
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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