NSE Currency Futures Report: 4th December 2018

Insignia Consultants

New Delhi

Tuesday, December 4, 2018

TIME: 09:09 am IST

NSE CURRENCY FUTURES DAILY REPORT

The more the rupee rises against the US dollar, the more will be short covering. Corporate debt demand will be there if rupee rises against the US dollar. At the end of the every quarter, there is corporate debt payables. Unhedged corporate debt could be hedged if rupee shows signs of sustained rise. There is Fed testimony tomorrow, various US jobs numbers on Thursday and Friday, all can change the trend of rupee and Asian currencies. Volatility should rise till Friday. Low risk traders should trade for intraday only (Friday). 

US dollar-Indian Rupee 27th December 2018 future (usd/inr CMP 70.6325):

One Support: 70.3175-70.4975

One Resistance: 70.8175-70.9925

  • Small sell off will be there below 70.4975.
  • Quick rise will be there over 70.8175.
  • Usd/inr needs to trade over 70.4900-70.5500 zone to zoom.
  • There can be very sharp two way moves.

Euro/Indian Rupee 27th December 2018 Futures (Euro/inr CMP 80.4800):

One Support: 79.6375

One Resistance: 79.8675-80.0150

  • 100% retracement is at 80.6050.
  • There will be another wave of rise only if euro/inr trades over 80.6050 to 80.9075 and 81.1050.
  • Small sell off will be there below 80.3725.

UK Pound/Indian Rupee 27th December 2018 Futures (Gbp/inr CMP 90.1150):

One Support: 89.9975

One Resistance: 90.2875-90.6175

  • Gbp/inr needs to trade over 89.9050-89.9975 zone to rise to 90.6175 and 90.9450.
  • Today small sell off will be there below 89.9975.

Japanese Yen/Indian Rupee 27th December 2018 Futures (Jpy/inr CMP 62.5175):

One Support: 62.3300

One Resistance: 62.6375

  • 100% retracement is at 62.6375.
  • There will be another wave of rise only over 62.6375 to 62.8475-62.9900.
  • Sellers will be there below 62.3300.

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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