12th September: NSE currency future daily trend.

Insignia Consultants

New Delhi

Tuesday, September 12, 2017

TIME: 9:34 am IST

NSE CURRENCY FUTURES DAILY TREND

Gains in the US dollar is just profit taking before the Bank of England meeting on Thursday and FOMC meet next week. I do not expect surprises in either of the meetings but investors are cautious. Quarter end profit taking is also seen in bullion and currency markets. German elections after the FOMC meeting will also prevent euro from a sharp rise.

NSE CURRENCY FUTURES TECHNICAL LEVELS
  USD/INR  SEPT 17 EURO/INR SEPT 17 GBP/INR SEPT 17 JPY/INR SEPT 17
CMP ₹ 64.1000 ₹ 76.6900 ₹ 84.4950 ₹ 58.6650
S5 ₹ 63.7950 ₹ 76.1875 ₹ 83.7100 ₹ 58.1375
S4 ₹ 63.8650 ₹ 76.3450 ₹ 83.9650 ₹ 58.3450
S3 ₹ 63.9000 ₹ 76.4875 ₹ 84.1150 ₹ 58.4125
S2 ₹ 63.9675 ₹ 76.5475 ₹ 84.2975 ₹ 58.5650
S1 ₹ 64.0250 ₹ 76.6325 ₹ 84.4225 ₹ 58.6325
         
R1 ₹ 64.1525 ₹ 76.8050 ₹ 84.5850 ₹ 58.7850
R2 ₹ 64.2125 ₹ 76.9250 ₹ 84.7150 ₹ 58.9325
R3 ₹ 64.2875 ₹ 77.1075 ₹ 84.7150 ₹ 59.0125
R4 ₹ 64.4050 ₹ 77.2525 ₹ 84.9225 ₹ 59.0975
R5 ₹ 64.4925 ₹ 77.3825 ₹ 85.0175 ₹ 59.1975
ALL PRICES IN INDIAN RUPEES ABOVE
CMP = Current Market Price
ABOVE TECHNICALS ARE ONLY FOR REFERENCE

US dollar-Indian September futures (CMP/Previous day close 64.1000): Key resistance is at 64.1625. There will be a technical breakout over 64.1625 to 64.4450. Support is at 64.0200. Sell off will be there only if usd/inr trades below 64.0200.

Euro/Indian Rupee September (CMP/Previous day close 76.6900): Key support is at 76.5425. Euro/inr needs to trade over 76.5425 to rise to 76.9825 and 77.1025. Sell off will be there only below 76.5425 to 76.2475 and 76.0550.

UK Pound/Indian Rupee September (CMP/Previous day close 84.4950): Key resistance is at 84.7175. Only a break of 84.7175 will trigger another wave of rise to 85.0875 and 85.2750. Chances of a correction will be high in case gbp/inr does not break 84.7175 by tomorrow to 84.0775.

Japanese Yen/ Indian Rupee September (CMP/Previous day close 58.6650): Key support is at 58.5625. There will be crash only below 58.5625 to 58.3050 and 57.9100. Bullish trend will be there only over 58.9325.

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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