NSE Currency Future Report: 6th December 2018

Insignia Consultants

New Delhi

Thursday, December 6, 2018

TIME: 09:09 am IST

NSE CURRENCY FUTURES DAILY REPORT

I am not sure of the US dollar will be able to continue its gains. There are lots of trend changing US economic data releases till 14th December. Difficult to predict market reaction of each the key releases. Investors are nervous as global financial markets are behaving like a drunk man. Global political leaders are behaving like a drunk man which is keeping investors and traders in a state of inertia. Not a single nations stocks, bond or currency investment can be marked as safe for the short term investment.

In India, next week’s state election results will be the key. Traders are factoring extreme losses for the BJP and NDA alliance. Any positive surprises for the BJP will result in rupee gaining against the US dollar. 

US dollar-Indian Rupee 27th December 2018 future (usd/inr CMP 71.0475):

One Support: 70.8650

One Resistance: 71.1025

  • 100% retracement is at 71.1025.
  • There will be another wave of rise to 71.3450 and 71.5675 on a break of 71.1025.
  • Small sell off will be there below 70.8650.
  • There can be very sharp two way moves.

Euro/Indian Rupee 27th December 2018 Futures (Euro/inr CMP 80.7350):

One Support: 80.3925

One Resistance: 80.8625

  • Previous week high of 80.6050 is the key price to watch.
  • Euro/inr needs to trade over 80.6050 today to rise to 80.8625 and 81.1975.
  • Small sell off will be there below 80.6050 and crash below 80.3925.

UK Pound/Indian Rupee 27th December 2018 Futures (Gbp/inr CMP 90.5100):

One Support: 90.2850

One Resistance: 90.6825

  • Key intra day resistance is at 90.6825. There will be another wave of rise on a break of 90.6825 to 91.0175.
  • Today small sell off will be there below 90.3850.

Japanese Yen/Indian Rupee 27th December 2018 Futures (Jpy/inr CMP 63.1550):

One Support: 63.0075

One Resistance: 63.4575

  • Yen/inr can rise to 63.4575 and 63.6725 as long as it trades over 63.0075.
  • Small sell off will be there below 63.0075.

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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