11th September: NSE currency futures daily trend.

Insignia Consultants

New Delhi

Monday, September 11, 2017

TIME: 9:06 am IST

NSE CURRENCY FUTURES DAILY TREND

Gains in the US dollar is just correction before the bank of England meeting on Thursday and UN meeting on North Korea. Big moves will be there only if the impact of hurricane Irma is known. This should be big week for the currency markets.

NSE CURRENCY FUTURES TECHNICAL LEVELS
  USD/INR  SEPT 17 EURO/INR SEPT 17 GBP/INR SEPT 17 JPY/INR SEPT 17
CMP ₹ 63.9725 ₹ 76.9000 ₹ 84.3050 ₹ 59.0300
S5 ₹ 63.6450 ₹ 76.1875 ₹ 83.5450 ₹ 58.5650
S4 ₹ 63.7050 ₹ 76.3450 ₹ 83.7100 ₹ 58.7125
S3 ₹ 63.7825 ₹ 76.4875 ₹ 84.0775 ₹ 58.7875
S2 ₹ 63.8650 ₹ 76.6375 ₹ 84.1500 ₹ 58.8650
S1 ₹ 63.9075 ₹ 76.8075 ₹ 84.2450 ₹ 58.9325
         
R1 ₹ 64.0250 ₹ 76.9675 ₹ 84.3875 ₹ 59.0825
R2 ₹ 64.1025 ₹ 77.1025 ₹ 84.5250 ₹ 59.1975
R3 ₹ 64.1775 ₹ 77.3825 ₹ 84.7150 ₹ 59.2650
R4 ₹ 64.2550 ₹ 77.4950 ₹ 84.9225 ₹ 59.4000
R5 ₹ 64.4375 ₹ 77.7025 ₹ 85.0175 ₹ 59.5950
ALL PRICES IN INDIAN RUPEES ABOVE ABOVE
CMP = Current Market Price
ABOVE TECHNICALS ARE ONLY FOR REFERENCE

US dollar-Indian September futures (CMP/Previous day close 63.9725): There can be pullback rallies to 64.0950 and 64.2550 as long as it trades over 63.9075. Sell off only below 63.9075 to 63.7825.

Euro/Indian Rupee September (CMP/Previous day close 76.9000): Key support is at 76.7825. There will be a technical breakdown below 76.7825 to 76.4850 and 75.8825. Euro/inr can rise to 77.3825 in case if it manages to trade over 76.7825. Technically bearish.

UK Pound/Indian Rupee September (CMP/Previous day close 84.3050): Only a break of 84.4450 will trigger another wave of rise to 84.7175 and 85.0875. Key support is at 84.0775. Gbp/inr needs to trade over 84.0775 this week to prevent a short term bearish trend.

Japanese Yen/ Indian Rupee September (CMP/Previous day close 59.0300): Yen can fall to 58.9325 and 58.7150 as long as it trades below 59.1125. Rise/bullish trend will be there only over 59.1125.

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. 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 NSE currency futures.

NSE Currency Futures Trade Timings 9:00 am IST to 5:00p IST.

NSE currency futures link: https://www.nseindia.com/products/content/derivatives/currency/cd.htm

 

 

 

 

 

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