NSE Currency Futures Report: 30th November 2018

Insignia Consultants

New Delhi

Friday, November 30, 2018

TIME: 09:14 am IST

NSE CURRENCY FUTURES DAILY REPORT

Looks for short covering in all currencies today. There are lots and lots US economic data releases next week. US dollar is firm. I expect currencies to change trend every week in December till Christmas.

If the RBI does not intervene, expect more losses for the rupee against the US dollar. 

US dollar-Indian Rupee 27th December 2018 future (usd/inr CMP 69.9650):

One Support: 69.7225-69.8750

One Resistance: 70.5125-70.6375

  • 100% retracement is at 69.7225.
  • Small sell off will be there below 69.8750
  • Usd/inr needs to trade over 70.0350 to rise further.

Euro/Indian Rupee 27th December 2018 Futures (Euro/inr CMP 79.9100):

One Support: 79.5550-79.8250

One Resistance: 80.0850-80.2250

  • Small sell off will be there below 79.8250.
  • 100% retracement is at 79.5550.
  • There can be sharp rise as long as euro/inr trades over 79.5550.

UK Pound/Indian Rupee 27th December 2018 Futures (Gbp/inr CMP 89.5600):

One Support: 89.3650-89.5150

One Resistance: 89.6750-89.9850

  • Pound needs to trade over 89.6750 to be in bullish zone and rise further.
  • Small sell off will be there below 89.5150.

Japanese Yen/Indian Rupee 27th December 2018 Futures (Jpy/inr CMP 61.8650):

One Support: 62.0075-62.1625

One Resistance: 62.3325-62.59500

  • 100% retracement is at 61.7950.
  • Another wave of sell off will be there below 61.7950 to 61.4500 and 61.3200.
  • Yen needs to trade over 62.0225 to rise further.

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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