USD-INR APRIL 2011 MCX-SX FUTURE

Yesterday it  opened  gap down  at  44.465 & went up to 44.49 to mark the high of the day. It then continued to decline till the  fag end of the day to 44.34 to mark the low of the day & finally  closed at 44.3725.For the day we expect one more gap down opening around 44.25.Our bias is negative & do not expect it to fill the gap however it is likely to face resistance at 44.42-44.45 for any up move. Downside there exists good support at 44.23-44.25 & then at 44.10-44.14.  Swing trader should  sell short when it tries to partially fill the today's down gap  with the  stop of 44.34  for the target of 44.23 & then lower at 44.14. 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 1.45473 & crossed the previous top of 1.4520 with high volume & momentum.The same is continued in today's morning trade of Asian markets. In our view it is in strong trended move & not likely to relent prior to 1.4800.  Swing trader should go long  at current market price (cmp) with the stop of 1.4520 for the target of 1.4710 & higher. 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 gap up at   63.8025 & this itself was the low of the day. It then relentlessly move till the fag end of the day to mark 64.5175 as the high of the day to close at 64.4350.For the day we are expecting a runaway gap up opening around 64.70-64.80 & we have set two targets at 64.86-64.94 & 65.25-65.33.In our view aggressive  swing trader should  go long with the stop placed at 64.60 for the target 64.86 & 65.25. 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  though it has broken out of the falling channel, it did not cross 83.10.This is an indication of weakness or differing of up move time wise. Downside we see 82.50 & 81.85 as good support & upside it may face resistance of the 83.10 & 83.78. In our view traders should go long around 82.20  with the stop of the 81.70   for the target of 83.10 & 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 53.75.We see two resistance at 54.05 & 54.20 & support at 53.65-53.49.A move above 54.20 will be very bullish & breach of 53.49 will be bearish.   In our view aggressive  swing trader should go short around 54.05   with the stop of 54.30 for the target of 53.65  & lower.

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