USD-INR MARCH 2011 MCX-SX FUTURE

Yesterday it made the low of 45.0725 during the opening moments & then keep rising  for whole of the day to mark the high at 45.1625 & finally closed the day at 45.1050.In our view it is declining within the well defined downward channel as shown below in the chart. Today morning it has made the low of 45.03 & we are of the view that it has either bottomed out at 45.03 or it may make one more nominal low below 45.03 & reverses up for the target range of 45.21-45.23.In any case we do not see it going below 44.98.  Swing trader should go long on breach above ATP  with the stop of 45.03 for the initial target of 45.21 & higher.

SPECIAL NOTE:- We would earnestly request the readers to read carefully the qualifying conditions for the call to be activated. Without meeting the qualifier conditions call do not get activated & simply cursory look at chart & arrow may lead to erroneous call activation & financial losses.

EURO-USD

 Yesterday it made the low of 1.4139 in the morning & then went up to mark the high of  1.4240 & finally closed the day at 1.4219.This has in fact delayed the top formation by a day but it is facing the stiff resistance from the previous top of 1.4282.We are of the view that either the top has been formed or it will make nominal high above 1.4240 & reverse.   Swing trader should wait for the confirmation of the top in & around 1.4240 or sell  with appropriate stop for the initial target of 1.4135 & lower at 1.3970.

EURO-INR MARCH 2011 MCX-SX FUTURE

Yesterday in line with our expectation it  made the high of 63.97, low of 63.7850 & closed at 63.8475.Today it has opened with the small gap up & made the high of 64.0575.In our view at best it may make one more nominal high above 64.0575 & reverses for the downside for the 63.87 & 63.52.

 In our view aggressive  swing trader should go short on confirmation of the top formation or on the breach of day's ATP with the stop of the high for the initial target of 63.87 & then for 63.52. Once the trade runs in profit trail the stop suitably for exit so that profit is compounded & any lower target can also be taken advantage of it.

USD-JPY:- Yesterday it opened at 80.63 & this itself was the low of the day.It then kept on rising for the day to mark the high of 81.33 & finally closed the day at 81.11.We see it rising  further to 81.80-82.20 range & then decline to 80.30-80.70 zone.

JPYINR MARCH 2011 MCX FUTURE :-Yesterday it opened at 55.73 & made the high of 55.8025.It then continue to decline to mark the low of 55.4850 & finally closed at 55.5275.Today it made the high of 55.6650 & we see it declining to 55.15-55.25 zone & then rising back to 55.80 levels. In our view aggressive  swing trader should go short at cmp with the stop of 55.70 for the target of 55.15-55-25.

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