NSE Currency Future Report: 18th October 2019

By: Admin
4 weeks ago
4751

Insignia Consultants

New Delhi

Friday, 18 October 2019

TIME 9:12AM IST                          

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NSE CURRENCY FUTURE DAILY REPORT

Brexit, if passed by the UK parliament, can result in gbp/inr rising to 95.00 in the short term. Inflows will reduce from next week. Traders will take positions for Tuesday. Brexit will be the key for global currency markets till next week. Euro/inr can also rise to 84.00 in the short term if brexit is accepted by UK parliament and there is no opposition among Eurozone members. Brexit has to be accepted by both sides.

Do not go by the online sale numbers. Discounts offer by etailers will result in a closure of shops and dealers. Indirect unemployment is also being created in India by excessive preference to etailers. Real spending will be way below expectation. A Diwali spending will be followed by a very long pause. So do not rejoice over Diwali sale numbers.

Demand-supply factors will dictate the rupee for the next two weeks. I expect intraday volatility to rise. Day traders paradise.

NSE CURRENCY FUTURE -- OCTOBER FUTURE

 

USD/INR

EURO/INR

GBP/INR

JPY/INR

CMP

71.2225

79.2675

91.5325

65.6600

S5

70.5950

78.7500

89.9375

65.2175

S4

70.7414

78.8688

90.3149

65.3195

S3

70.9000

78.9975

90.7238

65.4300

S2

70.9720

79.0559

90.9093

65.4802

S1

71.0610

79.1282

91.1389

65.5422

 

 

 

 

 

R1

71.3490

79.3618

91.8811

65.7428

R2

71.4380

79.4341

92.1107

65.8049

R3

71.5100

79.4925

92.2963

65.8550

R4

71.6686

79.6212

92.7051

65.9655

R5

71.8150

79.7400

93.0825

66.0675

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

  1. USD/INR OCTOBER 2019:  (a) Chances of a correction to 70.6225 and 70.2025 is high as long as this week’s high of 71.7975 is not broken.
  2. EURO/INR OCTOBER 2019:  (a) It can rise to 79.7725 and 80.5650 by next week as long as it trades over 78.7675. (b) Small sell off will be there below 79.0725.
  3. GBP/INR OCTOBER 2019:  (a) Key long term resistance is at 92.8950. (b) Overall trend is bullish as long as gbp/inr trades over 91.2525. (c) Today watch 91.6550. Gbp/inr can move 70-80 paisa either side from 91.6550.
  4. JPY/INR OCTOBER 2019:  (a) Yen needs to trade over 65.4250 to rise to 65.8650 and 66.1050. (b) Crash will be there below 65.4250.

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

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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