NSE Currency Future Report: 29th November 2019

By: Admin
2 weeks ago
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Insignia Consultants

New Delhi

Friday, 29 November 2019

TIME 9:26 AM IST                         

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NSE CURRENCY FUTURE REPORT

There is speculation that RBI is preventing gains in the rupee to ensure that exports are not hurt. This is indicated by every rising forex reserves. Inflows in India will remain high in the stock markets. I am not very sure of continued inflows in Indian bond market by global investors in December month. Corporate hedging and de-hedging (in December) will play a key role in rupee price moves against the major currencies. Next week’s various US jobs numbers can decide the US interest rate trend till February. Short term volatility will rise.

NSE CURRENCY FUTURE -- 27TH DECEMBER FUTURE

US DOLLAR-INDIAN RUPEE Current Price

? 71.8600

S3

S2

S1

 

R1

R2

R3

? 71.2200

? 71.5400

? 71.7090

 

? 72.0110

? 72.1800

? 72.5000

EURO-INDIAN RUPEE Current Price

? 79.2400

S3

S2

S1

 

R1

R2

R3

? 78.3875

? 78.8138

? 79.0388

 

? 79.4412

? 79.6663

? 80.0925

UK POUND-INDIAN RUPEE Current Price

? 92.8100

S3

S2

S1

 

R1

R2

R3

? 91.8500

? 92.3300

? 92.5834

 

? 93.0366

? 93.2900

? 93.7700

JAPANESE YEN-INDIAN RUPEE Current Price

? 65.7625

S3

S2

S1

 

R1

R2

R3

? 65.0725

? 65.4175

? 65.5997

 

? 65.9253

? 66.1075

? 66.4525

All technical are for reference only

 

  1. USD/INR 27th DECEMBER 2019:  (a) Key resistance is at 71.9825. A break of 71.9825 will result in 72.1475 and 72.3650. (b) Sellers will be there below 71.7400 and crash till next week will be there only below 71.3325.
  2. EURO/INR 27TH DECEMBER 2019:  (a) Euro/inr can rise to 79.8600 (by Monday) as long as it trades over 78.8350. (b) Sell off will be there below 78.8350 to 78.3475.
  3. GBP/INR 27TH DECEMBER 2019:  (a) Pound can rise to 93.0950 and 93.4550  as long as it trade over 92.6050. (b) Sell off will be there below 92.6050.
  4. JPY/INR 27TH DECEMBER 2019:  (a) Crash will be there below 65.5725 (till next week) to 65.3025 and 65.0475.

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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