NSE Currency Future Daily Report: 4th January 2019

Insignia Consultants

New Delhi

Friday, January 4, 2019

TIME: 9:21 am IST

NSE CURRENCY FUTURES DAILY REPORT

US dollar is weaker across the board. There can be very sharp two way moves before the US December nonfarm payrolls. I even a big gap between today’s close and Monday’s open. Rupee will gain against the major currencies as long as the US dollar remains weak. There is nothing on the domestic front. Buyers and sellers both need to trade carefully till Monday. 

US dollar-Indian Rupee 29th January 2019 future (usd/inr CMP 70.0425):

One Support: 69.9975

One Resistance: 70.1975

  • Small sell off will be there below 69.9975 and crash if 70.3650 is not broken today.
  • Only a break of 70.1975 will resume the intraday bullish zone.

Euro/Indian Rupee 29th January 2019 Futures (Euro/inr CMP 80.0125):

One Support: 79.8700

One Resistance: 80.2325

  • Small sell off will be there below 79.9450.
  • Crash below 79.7550
  • Euro/inr needs to trade over 80.1250 to be in intraday bullish zone.
  • There can be very sharp two way moves.

UK Pound/Indian Rupee 29th January 2019 Futures (Gbp/inr CMP 88.5500):

One Support: 88.4825

One Resistance: 88.8675

  • Crash will be there only below 88.4825
  • Gbp/inr needs to trade over 88.7675 to zoom.
  • Look for signs of rise.

Japanese Yen/Indian Rupee 29th January 2019 Futures (Jpy/inr CMP 64.8000):

One Support: 64.5650

One Resistance: 64.9250

  • Yen/inr has formed a short term top yesterday and can fall to 64.2775 and 63.6375 by next week as long as it trades below 65.5100.

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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