USD-INR APRIL 2011 MCX-SX FUTURE

Yesterday it  opened at 45.02 & this itself was the high of the day. It then continued to decline till the 44.93 to mark the low of the day & finally  closed at 44.9550. In our view it should make one more new low below 44.90.The momentum is diminishing with each passing day & 44.85-44.90 is strong support. However the breach of 44.85-44.90 may lead to 44.60 or lower as there is no support in between. Traders should watch 44.85-44.90 zone very carefully. Breach of 44.90 with high volume & momentum may lead to 44.60 & at the same lower volume & momentum will lead to a blip  below 44.90 & may recover swiftly. 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 long on the confirmation of bottom formation with the low of the day as stop for the target of 45.05 & higher.Alternatively trader should short on breach of 44.80 with the stop of 44.90 for the target of 44.60 & lower. Remember traders discretion & judgment of price behaviour at the 44.90-44.85 zone is vital for right direction  & this can be done at that moment of time only.

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 1.4053  & then start moving northward. In our view it should make one crawling movement high above 1.4250.This treacherous rise will require lot of patience & restrain on the part of traders. However scalpers take advantage of this with mild positive bias till it reaches 1.4250.  Swing trader should go long on cross above 1.4150 with the stop of 1.4100 for the target of 1.4220 & higher. Alternatively wait to  short above 1.4250  with the appropriate stop for the target below 1.3850.

 EURO-INR APRIL 2011 MCX-SX FUTURE

Yesterday  it opened at 63.30 & made the high  of 63.4125  & keep declining till 63.1675  to mark the low of day & finally closed  at 63.28.Today morning it is expected to open gap up at 63.40 & then it will crawl up to 63.54-63.64 zone.Movement is likely to be devoid of any momentum, choppy & with low volume. In our view aggressive  swing trader should go long around 63.35 with the stop of the 63.25 for the  target of  63.60 & higher. Once the trade runs in profit trail the stop suitably for exit so that profit is compounded & any higher target can also be taken advantage of it.

USD-JPY:- Yesterday it opened at 82.47 & made the  low of 82.35 the day. It then  rose to mark the high at 83.19 & finally closed the day at 82.93. 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. Swing trader should go at 82.70 with the stop of 82.45 for the target of 84.50.

JPYINR MARCH 2011 MCX FUTURE :-Yesterday it opened at 54.4375 & this itself was  the high of  day.It then continue to decline to mark the low of 54.12 & finally closed at 54.14.Today it opened at  54.19  & keep rising thereafter.  We see it rising to 54.55-54.60 & then declining to 53.75-53.65. In our view aggressive  swing trader should go short at any rallyaround 54.55 with the stop of 54.750 for the target of 53.70 & lower.

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