8th September: NSE currency future daily trend.

Insignia Consultants

New Delhi

Friday, September 08, 2017

TIME: 9:33 am IST

NSE CURRENCY FUTURES DAILY TREND

Traders were expecting QE withdrawal from October by the European central bank. But instead the ECB did give any time frame in its meeting. Euro zoomed as a result. Incoming US economy numbers has been affected by hurricane related news. US dollar crashed as a result. There is a long term technical breakdown for the US dollar as of now.

 

NSE CURRENCY FUTURES TECHNICAL LEVELS
  USD/INR  SEPT 17 EURO/INR SEPT 17 GBP/INR SEPT 17 JPY/INR SEPT 17
CMP ₹ 63.9800 ₹ 77.2100 ₹ 84.0225 ₹ 59.1600
S5 ₹ 63.6675 ₹ 76.5025 ₹ 83.1375 ₹ 58.4050
S4 ₹ 63.7150 ₹ 76.6925 ₹ 83.3050 ₹ 58.7775
S3 ₹ 63.8075 ₹ 76.8575 ₹ 83.5350 ₹ 58.8575
S2 ₹ 63.8775 ₹ 77.0475 ₹ 83.7625 ₹ 59.0250
S1 ₹ 63.9375 ₹ 77.2025 ₹ 83.9675 ₹ 59.0925
         
R1 ₹ 64.0200 ₹ 77.3575 ₹ 84.0850 ₹ 59.2325
R2 ₹ 64.0950 ₹ 77.5475 ₹ 84.2475 ₹ 59.2975
R3 ₹ 64.1675 ₹ 77.8075 ₹ 84.5225 ₹ 59.3950
R4 ₹ 64.2625 ₹ 77.8550 ₹ 84.7400 ₹ 59.6425
R5 ₹ 64.3575 ₹ 78.2400 ₹ 84.9375 ₹ 59.7275
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 63.9800): 63.9800 is the key support. Usd/inr needs to trade over 64.9800 to rise to 64.0950 and 64.1650. Sellers will be there below 63.9800 to 63.8800. Key long term support is at 63.8800.

Euro/Indian Rupee September (CMP/Previous day close 77.2100): There is a technical congestion between 77.2025 and 77.3950. Only a break of this zone will trigger another wave of rise to 78.1725. Initial support is at 77.0475. Sellers will be there only below 77.0475.

UK Pound/Indian Rupee September (CMP/Previous day close 84.0225): Sterling needs to trade over 84.0300 to rise to 84.2475 and 84.5225. There will be sellers if it trades below 84.0300 to 83.9675 and a crash if it trades below 83.9675.

Japanese Yen/ Indian Rupee September (CMP/Previous day close 59.1600): Yen needs to trade over 59.1700 to rise to 59.3750 and 59.7272. Key support is at 58.9650. Sellers will be there only below 58.9650.

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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