30th January: Gbp/inr february update

Insignia Consultants

New Delhi

Tuesday, January 30, 2018

TIME: 9:21 am IST

NSE CURRENCY FUTURE POUND -INR FEBRUARY 2018 SHORT TERM VIEW

CURRENT MARKET PRICE: 89.8175

Supports: 86.8875-87.3250-88.3250-89.4950

Resistances: 90.0425-90.9600-91.8350

  • Gbp/inr needs to trade over 88.3250 in the short term to rise to 91.9350.
  • Immediate resistance is at 90.0425. Only a break of 90.0425 will trigger a rise.
  • Immediate support is at 89.4950. There will be a sell off below 89.4950 to 88.3250.
  • Pound will zoom if and only if it trades over 90.0425 or after 5th
  • I am against going long in gbp/inr unless it trades over 90.9600 with a trailing stop loss of 89.7920.
  • Those are short in gbp/inr should use a trailing stop loss over 91.8350.

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.

 

 

 

 

 

Comments for this post are closed.