USD-INR MARCH 2011 MCX-SX FUTURE

Yesterday it  opened at 45.0675,made the high of 45.0725  & then keep declining  for whole of the day to mark the low at 44.9975 & finally closed the day at 45.02.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 44.9875 & we are of the view that it has  bottomed out at 44.9875.It has now reversed 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 45.00 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 1.4178 in the morning & then went up to mark the high of  1.4250 & finally closed the day at 1.4198.This has confirmed the fact that it is facing the stiff resistance from the previous top of 1.4282.We are of the view that  the top has been formed  & reversed for downside.   Swing trader should wait for the corrective rally & short in the 1.4200-1.4215   with appropriate stop of 1.4235 for the initial target of 1.4070 & lower at 1.3970.

 EURO-INR MARCH 2011 MCX-SX FUTURE

Yesterday in line with our expectation it  made the high of 64.1375, low of 63.9750 & closed at 64.0875.Today it has opened with the  gap down & made the low of 63.7375.In our view  it has reversed now for the downside & will find the support in the 63.46-63.58 zone.

 In our view aggressive  swing trader should go short at 63.83 with the stop of the 63.90 for the  target of  then 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 81.11, made the high of 81.30 & keep sideways drifting for the whole of the day to mark the low at 80.84 & finally closed at 80.98.We see it rising  further to 81.70-81.50 range & then decline to 80.30-80.00 zone.

JPYINR MARCH 2011 MCX FUTURE :-Yesterday it opened at 55.6425 & made the high of 55.745.It then continue to decline to mark the low of 55.5050 & finally closed at 55.7200.Today it made the high of 55.7450 & we see it declining to 55.15-55.25 zone. In our view aggressive  swing trader should go short at cmp with the stop of 55.75 for the target of 55.15-55-25.

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