NSE Currency Future Report: 9th October 2019

By: Admin
2 weeks ago
2038

Insignia Consultants

New Delhi

Wednesday, 09 October 2019

TIME 9:28AM IST                          

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NSE CURRENCY FUTURE DAILY REPORT

The government has stated its intention to reduce imports of goods manufactured by small scale and tiny scale industries. I believe that the so called proposed measures are a bit too late. It should have been implemented before the festivals say in June or July. Chinese imports will not fall for the rest of the calendar year. Globally every nation is looking at dim hopes of a USA-China trade deal. India and certain Asian nations also trying to woes companies to start manufacturing in India. Rupee will be very volatile till Friday. Most of the import payables are done. NRI inward remittances on the festival month will be the key.

NSE CURRENCY FUTURE -- OCTOBER FUTURE

 

USD/INR

EURO/INR

GBP/INR

JPY/INR

CMP

71.2950

78.2700

87.1625

66.5750

S5

70.0900

76.9325

86.3275

65.6600

S4

70.3204

77.2397

86.5050

66.0075

S3

70.5700

77.5725

86.6825

66.1725

S2

70.6833

77.7235

86.9425

66.3725

S1

70.8234

77.9104

87.0575

66.4775

 

 

 

 

 

R1

71.3150

78.5146

87.2275

66.7000

R2

71.4167

78.7015

87.4450

67.0263

R3

71.5300

78.8525

87.7875

67.2281

R4

71.7796

79.1853

88.0050

67.3913

R5

72.0100

79.4925

88.1325

67.7507

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

  1. USD/INR OCTOBER 2019:  (a) Rupee can rise to 71.5300 as long as it trades over 70.9000. (b) Sell off will be there below 70.90000.
  2. EURO/INR OCTOBER 2019:  (a) 100 day moving average around 78.4600 is the key resistance. Euro/inr needs to break and trade over 78.4600 to rise to 79.2000. (b) Crash will be there below 78.0100. Key support is at 78.0100.
  3. GBP/INR OCTOBER 2019:  (a) Gbp/inr needs to trade over 86.9400 to rise to 87.6000 and 88.3050 (b) Crash will be there below 86.9400.
  4. JPY/INR OCTOBER 2019:  (a) Yen needs to trade over 66.4350 to rise to 66.9800 and 67.1000. (b) Crash will be there below 66.4350.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, 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. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

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