USD-INR APRIL 2011 MCX-SX FUTURE :-Last week it made the low of 44.10 & closed at 44.22. As we had reported for last few weeks it is moving down within the falling channel & last week it has accelerated the downward momentum, indicating the exhaustion of down move. We see good support at 43.98-44.02 zone 7 only as extreme case it may move down to find the support at 43.78-43.82.On the upside we are looking initial resistance at 44.40-44.44 & then at 44.58-44.62. However in the such global turmoil with volatile & dynamic environment, it will be prudent to take this as rough skeleton & we will refine as well as retuned final target with the additional data on daily basis. Swing trader should go long on confirmation of reversal  as prices trades above ATP then buy  with the stop of low of the day for the target of 44.40-44.44 & then 44.58-44.62.Alternatively it may be around at 44.00-44.05   with the stop 43.90 for the initial target of 44.40 & 44.44.Once the trade runs in profit please trail the stop to lock in the profit.      

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:-Last week it opened at 1.4234,went down to mark the low of 1.4152 & surged to register the high of 1.4488 to finally close at 1.4479.These prices were unduly high under the fear of US government shut down & since then it is averted it is tending to move to realistic levels today morning around 1.4450.We see it correcting to 1.4400(subnormal), 1.4360(normal) & 1.4295 (extended)levels.  Swing trader  go short around 1.4450  with the stop of 1.4495 for the initial target of 1.4400 , 1.4360 & lower.

 EURO-INR APRIL 2011 MCX-SX FUTURE

Last week it  opened  at 63.30, made low of 63.1675 & high of 63.7350 to close finally at 63.6875. Today it may  open with exhaustion gap at 63.90-64.00  but would not cross 64.20.On the contrary we see it reacting to 63.86-63.90zone initially & then to 63.63-63.68.We are unable to take the full weeks view due to erratic behavior of EURUSD. With the events like Libya, Japan & boiling crude can alter the equations faster than analyst imaginations & best be referred to daily report. In our view aggressive  swing trader should go short in 64.10-63.20 range with the stop of 64.30 for the target of 63.70& 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.Rest of the calls will be given in daily report.

GBP:- Last week it made the high of 164.27 & closed the week at 1.6380.We are expecting it to oscillate in the range of 1.6250-1.6400.Trajectory of the same is drawn on the chart below. In our view aggressive  swing trader should go short around 1.6400 with the stop of 1.6450 for the target of 1.6250.Alternatively buy around 1.6250 with the stop of 1.6200 for the target of 1.6400.

GBP-INR APRIL 2011 MCX-SX FUTURE

Last week it opened at 71.90, made the low of 71.75 & then made the high of 72.64 to finally close the week at 72.36. For the coming week we see it  oscillating within the 71.70-72.70 range. In our view aggressive  swing trader should go short around.72.70 range with the stop placed at 73.00 for the target of 71.70.Alternatively buy around 71.75 with the stop of 71.50 for the target of 72.70.

USD-JPY:- Last week it made the high of 85.521 against our expectation of the 84.50-85.00.For the coming week  we are expecting it react & consolidate in & around 83.00-84.00 range with two likely support zones.  In our view aggressive  swing trader should sell short on top formation around 85.00 with the tight stop of 85.55 for the target of 82.70-83.00. Alternatively it may be bought at 82.70-83.00 with the stop of 82.50 for the target near 85.50.                                            

JPY-INR MARCH 2011 MCX-SX FUTURE :-We see that it has bottomed out at 51.77 & we see it bouncing to 52.80 - 53.40 zone. In our view aggressive  swing trader should go long on bottom confirmation around   52.10 with the stops of 52.00 for the target of 53.70.