10th March: NSE Currency Future Weekly Report
Saturday, March 10, 2018
NSE CURRENCY FUTURE WEEKLY TECHNICAL REPORT
US dollar-Indian Rupee March Future
Weekly Closing Price: 65.3050
- 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
- 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
- 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
- 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.