USD-INR APRIL 2011 MCX-SX FUTURE

Yesterday it  opened  at  44.4375 & went down to 44.33 to mark the low of the day. It then continued to rise till the  fag end of the day to 44.53.50 to mark the high of the day & finally  closed at 44.52.Today  it has opened the gap up & kept moving up. We are expecting first resistance at 44.74-44.78 & 65% probability it will return from there. Only as balance 35% probability it may move up to 44.94-44.98.We suggest to wait for the day to stabilize the market on the downgrade of US as erratic movement may subside & trade.  Swing trader should allow the market to stabilise in first half of the day  & on breach of ATP on downside sell short with the  stop of high of the day for the target of 44.50-44.54. Remember traders discretion & judgment of price behavior during the entry of trade  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 high of 1.4437,low of 1.4157 & closed at 1.4226. In our view it  has  terminated larger degree pattern at 1.4520 & headed for the substantial decline.Yesterday's event & subsequent price action has proved our analysis. For the day we have outright negative bias & under normal circumstances find the support at 1.4050-1.4070 & strong resistance  at 1.4310-1.4285.  Swing trader should  short sell at any rally with the stop of 1.4330 for the target of 1.4050-1.4070. Traders discretion & judgment of price rally top is vital for profitability of trade  & this can be done at that moment of time only.

 EURO-INR APRIL 2011 MCX-SX FUTURE :-Yesterday  it opened at 64.00, made the high  of 64.085 during the initial moments of the day. It then keep declining for the whole of the day till 63.6150  to mark the low of day & finally closed  at 63.66.Today morning it  opened gap down at  63.5475 & made the low of 63.44.On the upside we do not see it crossing 63.70 & downside good support at 63.20-63.16.  In our view aggressive  swing trader should wait for the confirmation of the top formation & then go short on the breach of ATP with the stop of the high for the target 63.20- 64.16. 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 contrary to our expectation it  went down & made the low of 82.15.We see minor down move to string support at 82.00-81.85.We are expecting a good bounce from there.  In our view traders should go long  on cross above of ATP with the stop of the low of the day  for the target of 84.50 & 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.

JPYINR MARCH 2011 MCX FUTURE :-Today morning  it  opened gap up at 53.85  made the high of  54.28.  In our view aggressive  swing trader should go short at  cmp  with the stop of 54.30 for the target of 53.750 & lower.

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