NSE Currency Future Report: 24th December

Insignia Consultants

New Delhi

Monday, December 24, 2018

TIME: 9:43 am IST

NSE CURRENCY FUTURES DAILY REPORT

Political storm in USA should result in gains for the rupee against the US dollar. There can be sudden very sharp two way moves. Lower crude oil prices is the best thing to have happened for India and most Asian nations. 

US dollar-Indian Rupee 27th December 2018 future (usd/inr CMP 70.1250):

One Support: 63.8325-70.0250

One Resistance: 70.2150-70.3900

  • Quick rise will be there over 70.1600 to 70.2450 and 70.4150.
  • Small sell off will be there below 70.0250 and crash below 69.6725.
  • Day traders remain on the sidelines.

Euro/Indian Rupee 27th December 2018 Futures (Euro/inr CMP 79.9275):

One Support: 79.6000

One Resistance: 80.1225

  • Crash or another wave of sell off will be there only below 79.6000.
  • There can be very sharp pullback rallies as long as euro/inr trades over 79.6000 to 80.3950-80.6750.
  • Trend is down at current prices. Low risk traders remain on the sidelines.

UK Pound/Indian Rupee 27th December 2018 Futures (Gbp/inr CMP 88.8700):

One Support: 88.7150

One Resistance: 88.9725

  • Gbp/inr needs to trade over 88.7000-88.8000 zone to rise to 89.1225 and 89.3925.
  • Small sell off will be there only below 88.7850 and crash below 88.6950.

Japanese Yen/Indian Rupee 27th December 2018 Futures (Jpy/inr CMP 63.1775):

One Support: 63.0250

One Resistance: 63.3050

  • Yen can rise to 63.3050 and 63.6000 as long as it trades over 62.9850.
  • Small sell off will be there below 63.0250,
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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