USD-INR APRIL 2011 MCX-SX FUTURE

Yesterday it  opened at 45.02,made the low of 45.0075 in the opening moments only. It then keep rising for whole of the day to mark the high at 45.1950 & finally closed the day at 45.1450.  In our view it has broken out of well defined downward channel as shown below in the chart. Today morning it  opened at 45.1450 & made the low of 45.055.We would refrain from short selling as it is likely to be pull back of break out. In our view it should find the good support in the 45.05-4507 range & if it happens so then it will start its upward journey for 45.30. Swing trader should go long on confirmation of the bottom in the 45.05-45.07 with the stop of the low of the day  for the initial target of 45.30 & 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 1.4022  & then went up to mark the high of  1.4116 & finally closed the day at 1.4081.In our most optimistic view it may drag down to 1.4000-1.4020 or just few ticks below 1.4022.Then we expect it to touch the 1.4116.  Swing trader should buy  above 1.4040 on confirmation of the bottom formation below 1.4022  with the low of the day as  stop  for the initial target of  1.41160 & higher.

 EURO-INR APRIL 2011 MCX-SX FUTURE

Yesterday  it opened at 63.31 & made the low  of 63.24 in the opening hours of the day & keep rising till 63.4725  to mark the high of day & finally closed  at 63.33.Today morning it opened  at 63.41 & made the low of 63.245 & moving the sideways. As we have been reporting for the few days the decline has began & we are looking it 62.40 or lower. In our view  it  is sell on every rally. However this decline will take its own time with the bumpy ride characteristics. In our view aggressive  swing trader should go short at 63.45 with the stop of the 63.60 for the  target of  then 63.15 & lower. 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 81.31 & this itself  was the low of the day.It then continues to rise to mark the high at 81.845 & finally closed the day at 81.722.Ideally it should retrace back to  80.50 & then rise again.  However note that for last 3 days it is making lower top & higher bottom, thereby restricting the trading range. The move to follow after such pattern is like bullet train & in 90% probability we are looking for upside at 84.50.Even then we have shown both the wave trajectory with the  todays target estimated at 82.40.

JPYINR MARCH 2011 MCX FUTURE :-Yesterday it opened at 55.25 & this itself was  the high of  day.It then continue to decline to mark the low of 55.10 & finally closed at 54.9975.Today it opened the gap up at 55.30 & keep declining thereafter.  We see it declining to 54.60 . In our view aggressive  swing trader should go short at any rallyaround 55.25 with the stop of 55.40 for the target of 54.60.

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