USD-INR AUG 2011 MCX-SX FUTURE:- Yesterday  it opened at 44.45 & this itself was the low of the day. It then moved up 44.5775 to mark the high of the day & finally close the day at 44.49.In our view 44.40-44.54 is trading range & breach of trading range on upside has resistance at 44.70-44.73 & on downside 44.23-44.26. However in such highly volatile & irrational market traders are advised to trade on low key.  Swing trader should trade the trading range in anticipatory mode as long as it is within the trading range & follow the break out with trend following conviction.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  made the low of 1.4144  against  our estimated range of 1.4165-1.4150 & reversed sharply to mark the high at 1.4364 & closed at 1.4361. In our view it has terminated a larger degree pattern at 1.4144 & should then be heading for the 1.4550-1.4500. Swing trader should  go long around 1.4275   with  the stop of 1.4245  for the target of 1.4500 & higher. 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 JULY 2011 MCX-SX FUTURE :- Yesterday it  opened gap down at 62.98 & this itself was the low of the day. It then continued to move up till 63.7350 & finally closed at 63.5825.Now the bottom 62.945 is firmly in place & we maintain our view for the march towards the 63.80-63.90. In our view aggressive  swing trader should go long below 63.55 with the stop of 63.45 for the target of 63.80 & 64.40. 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.

GBPINR JULY 2011 MCX FUTURE :-  Yesterday it opened gap down at 72.47  & went down to 72.3825 to mark the low of the day. It then continued to rise to mark the high at 72.93 & finally closed at 72.8625.Actually it has broken out of the long congestion of 72.20-72.85.  For the day we see support at 72.70-72.80 & resistance at 73.65-73.75.   In our view traders should go long below 72.70  with the stop of 72.65 for the target of 73.65.

USD-JPY:-  Yesterday it made the low of 76.78,high of 77.40  & closed at 76.9725.On the expected line of swing reversal today morning it hit the high of 79.28. For the day we see good support at 78.50-78.60 & resistance at 80.750-80.65 & 81.50-81..65. In our view traders should  go long near 79.20 with the stop of 78.75 for the target of 80.50 &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 JULY 2011 MCX FUTURE :-  Today it has opened gap down & made the low of 56.20.However we maintain our yesterday’ view.   In our view aggressive  swing trader should go short around 56.40  with the stop of 56.65 for the target of 54.40 & lower.

  PIVOTPOINT-TABLE

 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.

THIS IS THE PORTRAY OF GENERAL BROADER MARKET VIEW WITHOUT ANY SPECIFIC STRATEGY & SHOULD NOT BE CONSTRUIED AS SPECIFIC CALLS.FOR THE MORE POIGNANT VIEW ON MARKET,WINNING STRATEGY & PIN POINT TIMELY PRICE LEVEL CALLS, CONTACT US  TO SUBSCRIBE FOR OUR PREMIUM SERVICES.