USD-INR MAY 2011 MCX-SX FUTURE:-Yesterday it  opened   gap down at  44.86 &  went up   till 44.88 to mark   high of the day. It then went down for the whole of the day till 44.7875 to mark the low of the day & finally closed at 44.8325. For the day we expect flat to negative  opening around 44.80.In our view it should find resistance in the 44.94-44.96 & support at 44.68-44.72 & 44.57-44.59. Swing trader should sell short at 44.80  with the stop of 44.85 for the target of 44.68-44.72 & lower. Remember traders discretion & judgment of price behavior during the entry of trade  is vital for profitable trade  & this can be done at that moment of time only.

EURO-USD:- Yesterday it opened at 1.44086,  made the low of 1.41730 & high of 1.44231.The pause we were looking, has terminated at 1.44231 & fresh down move has commenced. It is likely to be very swift & will reverse swifter than that. For the day on the upside there is resistance at 1.4400-1.4450 & on the downside supports at  1.4040-1.4000   & 1.3780-1.3820. Swing trader should go short  around 1.4220  with the stop of 1.4240 for the target of 1.4040-1.4000 & 13780-1.3820.Alternatively trader may go long near any of the support levels if it shows the sign of reversal with the appropriate stop for the target of 1.4400.  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 MAY 2011 MCX-SX FUTURE :-Yesterday  it opened  at  64.50, went up to mark the high of the day at 64.6250. It then  moved down  to mark 64.36 as the low of the day to close at 64.3825.For the day we are expecting to open with the gap down around 63.80 & move further down to 63.00 -63.15 level for testing. In our view aggressive  swing trader should  go short  around  63.80 with the stop placed at 64.00 for the target 63.300.  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 made the low of 80.60 higher than  previous day's low. In fact it is now all set to fly off from the present level of 81.00, as reported  break out from the FALLING WEDGE,INVERTED HEAD & SHOULDER & FALLING CHANNEL has taken simultaneously. In our view traders should go long around 81.00  with the stop of the 80.80   for the target of 82.50 & 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 MAY 2011 MCX FUTURE :-Yesterday it  opened  down at 55.55 ,made the top of 55.61 & went down to register the low of 55.2900 & closed at 55.3350.Today morning  we expect it to gap down open & look for the support in the 55.00-55.10 & later 54.40-54.50.  In our view aggressive  swing trader should go short around 55.20-   with the stop of 55.45 for the target of 54.50  & lower.

 GBPINR MAY 2011 MCX FUTURE :- Yesterday it moved up bit more than what our expectations were. However for the day we expect the gap down opening with the resumption of the downtrend. In our opinion it has good support at 72.90 & it is headed for that. In our view traders should go short around 73.50 with the stop of 73.70 for the target of 73.00 or lower.

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.

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