10th March: NSE Currency Future Weekly Report

Insignia Consultants

New Delhi

Saturday, March 10, 2018

NSE CURRENCY FUTURE WEEKLY TECHNICAL REPORT

US dollar-Indian Rupee March Future

Weekly Closing Price: 65.3050

Support: 64.9700-65.1375

Resistance: 65.4725-65.6400-65.9625

Weekly View:

  • 100 week moving average at 65.8800 is the key resistance.
  • Usd/inr can fall to 64.7800 and 64.5400 as long as it does not break 65.8800.
  • There will be a technical breakout over 65.8800 to 66.2950-66.5650 and 66.9325.
  • Trading strategy: Use a sell on sharp rise strategy with a stop loss over 66.3650.

Euro-Indian Rupee March Future

Weekly Closing Price: 80.4000

Support: 79.3500-79.8750-80.1525

Resistance: 80.6475-80.9250-81.4500

Weekly View:

  • Euro/inr needs to trade over 80.2500 this week to rise to 81.4500
  • Sellers will be there 80.2500.
  • Crash point is at 79.8750
  • Trading strategy: Sell on any 70-80 paisa rise (if any) with a stop loss over 81.6975 for 79.3500.

UK Pound -Indian Rupee March Future

Weekly Closing Price: 90.2950

Support: 89.4400-89.9000

Resistance: 90.5550-90.7850-91.0850-91.6650

Weekly View:

  • Pound needs to trade over 90.5550 this week to rise to 90.9750 and 91.6650.
  • Sellers will be there if pound trades below 90.5550.
  • Crash point is at 89.8025.
  • Zoom point is at 91.1525.
  • Trading strategy: Sell at 91.6550 stop loss 92.0275 for 89.6150.

Japanese Yen -Indian Rupee March Future

Weekly Closing Price: 61.2200

Support: 60.7850

Resistance: 61.6575-62.0900

Weekly View:

  • Only a break of 61.6575 will result in 62.0900-62.6175 and 63.1125.
  • Sellers will be there as long as yen trades below 61.6575.
  • Crash point is at 60.7850.
  • Zoom point is at 62.0900
  • Trading strategy: Buy if and only if jpy/inr trades over 62.0900 with a trailing stop loss below 61.5500. Alternately one can also sell if yen/inr does not break 62.0900 this week.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto currency, 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. Prepared by Chintan Karnani

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

Indian Standard Time (IST): +5:30 GMT

Current Market Price (CMP)

All foreign exchange prices are for inter-bank rates.

 

 

 

 

 

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