USD-INR JUNE 2011 MCX-SX FUTURE:- Yesterday it opened gap down at 44.98 & went up to 45.0250 to mark high of the day . It then continued to move south till 44.9025 to mark as the low of the day  & finally closed the day at 44.9175.For the day we are expecting a negative opening to find the support at 44.83-44.85 & breach of 44.83 will lead to 44.77-44.79.BARRING UNFORESEEN DEVELOPMENT WE ESTIMATE 44.93-44.77 AS THE RANGE OF THE DAY.  Swing trader should go short around  44.89 with the stop of 44.92  for the target of 44.83 & 44.79r.  Remember traders discretion & judgment of price behavior during the entry of trade  is vital for profitability of trade  & this can be done at that moment of time only.

EURO-USD:- Yesterday it moved further north to mark the high of the day at 1.4423.Now since GREEK vote of confidence is won by PAPANDREOU volatility should subside & mild profit booking may be seen. For the day we see  trading range as 1.4425-1.4200 & may remain confined within this barring unforeseen developments.  Swing trader should  go short around  of 1.4380  with  the stop of 1.4420  for the target of 1.4300 & 1.4190.  Traders discretion & judgment of price rally top/price decline bottom while entering trade,  is vital for profitability of trade  & this can be done at that moment of time only. 

EURO-INR JUNE 2011 MCX-SX FUTURE :- For the day we expect a flat opening in the range of  64.40-64.45  & then may crawl up to 64.75-64.67 resistance zone. We see 64.75-64.30as the trading range & expect largely to remain confined within this range as shown on the chart. In our view aggressive  swing trader should sell short on any rally towarda 64.65 with the stop of 64.80 for the target of 64.40 & 64.05. 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 80.05.In our view it is in low momentum slow decaying downtrend. For the day we are visualizing 80.35-79.60 as the trading range.  In our view traders should  go long near 79.70 with the stop of 79.50 for the target of 80.30 & 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 JUNE 2011 MCX FUTURE :-Yesterday it opened at 56.105 & this itself was the high of the day & it continued to decline till 55.97 & finally close the day at 55.9875. For the day we see 55.85-55.80 as support downside  & then it should head for new high above 56.20.  In our view aggressive  swing trader should go long  on any  decline  towards  55.80 with the stop of 55.750 for the target of 56.20 & higher.

   GBPINR MAY 2011 MCX FUTURE :- We are changing our mild negative view to neutral.We are looking for a resistance at 73.10-73.15 & support at 72.60-72.65.  In our view traders should go short on any rally toward  73.10 with the stop of 73.25 for the target of 72.70.

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