USD-INR APRIL 2011 MCX-SX FUTURE

Yesterday it  opened at 45.1425 & this itself was the high of the day. It then continued to decline till the 44.9550 to mark the low of the day & then recovered most of the lost ground to close at 45.0550.Yesterday's movement has shown that the break out from the falling channel was false & it remains in downtrend. Only thing it denotes that momentum of decline has reduced. In our view it should make one more new low below 44.90. Today morning it  opened down  at 45.02 & made the low of 44.93. In our view it should find the good support in the 44.80-44.82 range.However the traders should be prepared for the year end erratic behavior. Swing trader should go 45.00 on with the stop of the 45.08   for the initial target of 44.80.

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 high of 1.4155  & then start declining. In our view it should make one crawling movement high above 1.4250.This will remain valid till it breaches 1.4000.  Swing trader should  wait to short above 1.4250 or short on breach of 1.4000 with the appropriate stop for the target below 1.3850.

 EURO-INR APRIL 2011 MCX-SX FUTURE

Yesterday  it opened at 63.41 & made the high  of 63.5450  & keep declining till 63.2850  to mark the low of day & finally closed  at 63.38.Today morning it opened  down at 63.30 & made the low of 63.205 & 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 above 63.50 with the stop of the 63.65 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 81.722 & made the  low of 81.530 the day. It then continues to rise to mark the high at 82.49 & finally closed the day at 82.47. We had been emphatically reporting for the last few day that it should touch the 84.50 &  journey for the same has began with BANDBAZA. The bulls has to do only one thing. Cling on to the position till 84.50 as the baby clings her mother.

JPYINR MARCH 2011 MCX FUTURE :-Yesterday it opened at 55.30 & this itself was  the high of  day.It then continue to decline to mark the low of 54.90 & finally closed at 54.9550.Today it opened the gap down 54.4375  & keep declining thereafter.  We see it declining to 54.20,53.70 &53.20. In our view aggressive  swing trader should go short at any rallyaround 54.50 with the stop of 54.750 for the target of 53.70 & 53.20.

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