NSE Currency Future Report: 16th October 2019

By: Admin
4 weeks ago
5099

Insignia Consultants

New Delhi

Wednesday, 16 October 2019

TIME 9:34AM IST                          

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NSE CURRENCY FUTURE DAILY REPORT

I am tempted to write on the rupee today. I am not giving the technical levels. IMF has reduced India’s growth forecast. I believe that lower growth has already been factored in by the currency markets as well as bond markets. Export-Import numbers also suggest caution among importers. India has yet to take off import substitution (manufacturing) measures in a big way. Bright Brexit chances by the month end has resulted in UK pound galloping since last Friday. Euro is getting weighed down by fundamentals.

  1. USD/INR OCTOBER 2019:  (a) Key support is at 71.5275. (b) It can rise to 71.8875 and 72.1550 by tomorrow as long as it trades over 71.5275. (c) Sellers will be there only below 71.5275.
  2. EURO/INR OCTOBER 2019:  (a) Key resistance is at 79.3900. A break of 79.3900 will pave the way for 79.6000 and 79.7950.(b) Sellers will be there only below 79.0700 today to 78.9125 and below.
  3. GBP/INR OCTOBER 2019:  (a) Gbp/inr can rise to 92.0600 as long as it trades over 91.2525. (d) Sellers will be there below 91.2525. Crash till Friday will be there only below 90.7575.
  4. JPY/INR OCTOBER 2019:  (a) Yen needs to trade over 65.9950 to rise to 66.2850 and 66.4950. (b) Crash will be there below 65.9950.

 

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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