NSE Currency Future Report: 2nd January 2019

Insignia Consultants

New Delhi

Wednesday, January 2, 2019

TIME: 9:33 am IST

NSE CURRENCY FUTURES DAILY REPORT

Global factors will dictate the direction of the rupee more than domestic factors. Various US jobs numbers are there from tomorrow. Rupee will weaken against the US dollar whenever fundamentals of Indian economy dictate the markets. Fundamentals are weak. Election year populist measures has ensured that fiscal deficit and budget deficit will remain on the higher side. 

US dollar-Indian Rupee 29th January 2019 future (usd/inr CMP 69.8250):

One Support: 63.4325-69.6200

One Resistance: 70.0200

  • Overall trend is down as long as usd/inr trades below 70.0200 with 69.4325 as price target.
  • Small sell off will be there below 69.7750 and crash below 69.6200
  • Quick rise will be there over 70.0200.

Euro/Indian Rupee 29th January 2019 Futures (Euro/inr CMP 80.1050):

One Support: 80.0400

One Resistance: 80.2800

  • Key support till Friday is at 79.9650.
  • Euro/inr needs to trade over 79.9650 to rise to 80.5950 and 80.9100.
  • Crash will be there only below 79.9650.

UK Pound/Indian Rupee 29th January 2019 Futures (Gbp/inr CMP 89.0125):

One Support: 88.9275

One Resistance: 88.1150-89.2825

  • Gbp/inr needs to trade over 88.9275 today to rise to 89.2800 and 89.6350.
  • Small sell off will be there only below 88.9275 and crash below 88.7450.
  • There can be very sharp two way moves.

Japanese Yen/Indian Rupee 29th January 2019 Futures (Jpy/inr CMP 63.9150):

One Support: 63.7050

One Resistance: 64.0250

  • Yen can rise to 64.1250 and 64.3050 as long as it trades over 63.7050.
  • Small sell off will be there below 63.7050.

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.

Join my cause – stop food wastage in our daily lives

By just reducing food wastage we can contribute to prevent global warming. I just want my readers to stop wasting food in their daily lives and also ask their friends and acquaintances to do the same.

 

 

 

 

 

 

 

 

Comments for this post are closed.