USD-INR APRIL 2011 MCX-SX FUTURE

Yesterday it  opened  gap up  at  44.55 & went up to 44.7725 to mark the high of the day. It then continued to decline till the  fag end of the day to 44.53 to mark the low of the day & finally  closed at 44.5675.Today  it has opened the gap down at 44.465 & kept moving down to 44.35.It followed the trajectory exactly on expected line of 44.74-44.78. We are expecting first resistance at 44.48 &  downside support at 44.34-44.38 & then at 44.23-44.25.  Swing trader should  sell short around 44.48  with the  stop of 44.52  for the target of 44.38-44.34 & then lower. 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 low of 1.4206 & closed at 1.4331. In our view it  has  terminated smaller degree pattern at 1.4155 & headed for the substantial rise.Yesterday's event & subsequent price action has proved our analysis. For the day we have initially slight  negative bias  till 1.4325-1.4345 & we are expecting a fresh up move from there to 1.4450.Alternatively if it breaches the 1.4325-1.4345 level decisively then we will have strong negative bias for 1.4150. u  Swing trader should go long  at 1.4325-1.4345 with the stop of 1.4310 for the target of 1.4450. Traders discretion & judgment of price decline bottom 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 63.5475, made the low  of 63.44 during the initial moments of the day. It then keep rising for the whole of the day till 63.69  to mark the high of day & finally closed  at 63.6125.Today morning it  opened gap up at  63.8025 & made the high of 64.04675.On the upside we do not see it crossing 64.12  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 of the day for the target 63.60- 63.64. 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 has broken out of the falling channel & we see strong rally to 84.50 at least. However we may see initially a pull back of the break out & that will be a good entry point for long position. Downside we see 82.50 & 81.85 as good support & upside it may face resistance of the 83.78 & 84.25. In our view traders should go long around 82.70  with the stop of the 82.30   for the target of 83.78 & 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 down at 53.75  made the low of  53.39.  In our view aggressive  swing trader should go short around 53.70   with the stop of 53.80 for the target of 53.09  & lower.

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