USD-INR MAY 2011 MCX-SX FUTURE:-Yesterday it  opened   gap up  at  44.9450 &  went down   till 44.8650 to mark   low of the day. It then went down for the whole of the day till 45.1350 to mark the high of the day & finally closed at 45.1075. For the day we expect flat   opening around 45.10.In our view it should receive support at the 45.08-45.02 & 44.96-44.92  resistance at 45.28-45.32 & 45.51-45.55. Swing trader should go long at 45.05  with the stop of 44.95 for the target of 45.28-45.32 & higher. 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 1.4196,  made the low of 1.4123 & high of 1.4276.The down move we were   looking for, has terminated at 1.4123 & corrective up move has commenced. It is likely to be slow  & choppy. For the day on the upside there is resistance at 1.4400-1.4450 & on the downside supports at  1.4090-1.4161. Swing trader should go short  around 1.4420  with the stop of 1.480 for the target of 1.4040-1.4000 .Alternatively  aggressive trader may go long near 1.4200 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  gap down  at  64.2550, went down to mark the low of the day at 63.7000 to close at 63.85.For the day we are expecting to open flat but our bias is positive. As per our analysis it has terminated a pattern at 63.70 &  likely to bounce back to 64.50. In our view aggressive  swing trader should  go long  around  63.80 with the stop placed at 63.70 for the target 64.4700.  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 80.711 higher than  previous day's low of 80.60. 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 80.80  with the stop of the 80.50  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 55.3350 ,made the top of 55.84.75 & went down to register the low of 55.2625 & closed at 55.7225.Today morning  we expect it to positive open & look for the resistance in the 55.95-56.01.  In our view aggressive  swing trader should go short around 55.90-   with the stop of 56.10 for the target of 55.60  & lower.

  GBPINR MAY 2011 MCX FUTURE :- Yesterday it made the low 73.3025 & we expect a support at 73.00 & bounce to 73.40-73.50.  In our view traders should go long  around 73.00 with the stop of 72.80 for the target of 73.40 or higher.

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