Daily market Views

[smartboy1jan1982]

Re: FX view 22 Jul 2010

thats correct.. i work in OTC market.. for a bank

That explains it as Individual Indian citizens are not allowed to trade OTC spot forex.

Btw, I have a feeling that you work for a private sector bank and not a govt. bank.

 

[ritwijmahant]

Re: FX view 22 Jul 2010

ur feeling is correct sir

 

[smartboy1jan1982]

Re: FX view 22 Jul 2010

ur feeling is correct sir

Judging by your resume I am absolutely sure that you are much senior to me in terms of age. So it feels a bit awkward if you address myself as 'Sir'.

Btw, I also have a bank account with Indusind since last 4 years but I hardly use its services these days.

 

[arathi17]

Re: FX view 22 Jul 2010

hi frnds,

Buy dollar @ 47.00...s/l @ 46.94...t/p @ 47.14 ( july futures)

Regards

Amit

 

[ritwijmahant]

Re: FX view 22 Jul 2010

morning.. expect teh pair to trade in teh range of 46.88-47.12 today..

happy hunting

 

[ritwijmahant]

FX Views 26 Jul 2010

morning all..

here are FX views for the day. .

Euro.. buy dips.. range expected 1.2910-1.2975.. Buy 1.2920.. s/l 1.2880. If 1.2975 trades.. keep s/l at 1.2935 with fresh target of 1.3050

GBP.. buy dips at 1.5410.. target 1.5550.. s/l 1.5365

JPY.. selling here at 87.70. s/l 88.20.. for 86.70.. expecting the pair to eventually test below 86..

INR./. expect range of 46.77-93(OTS SPot levels) for teh day.... steady ranged tradong expecetd ahead of policy

good day

 

[ritwijmahant]

Re: FX Views 26 Jul 2010 - Updated..

As per morning view..

euro long.. stop loss now at cost..

JPY short..

GBP went up before my level came.. no trade tehre,,

INR short at 46.91, 46.88.. took part t/p at 46.85.. continue to hold shorts..

View for the week..

Break of 46.70.. will see first target of 46.45.. second at 46.05.. max by next week.. upside restricted to 47.05..

 

[ritwijmahant]

Re: FX Views 26 Jul 2010

Hit stop loss on Euro at cost.. at 1.2920

 

[smartboy1jan1982]

Re: FX Views 26 Jul 2010

ritwij,

You said you are a proprietary trader for a bank. If you don't mind telling us then I would like to know what sort of rules and regulations are applied to you personally for trading forex by the bank such as -

1. trade sizes- What is the minimum, maximum and avg. trade size of eur/usd and usd/inr?

2. no of transactions- any limits on maximum or minimum trades per trading day?

3. profit and loss per day or per week/month which is expected and acceptable or unacceptable by the bank.

 

[ritwijmahant]

FX Views - July 27, 2010

Euro.. call was right yesterday and pair crossed above 1.3000.. although after hitting my trailing s/l... expect buying to contnue in Asian session.. expect range for teh day at 1.2980-1.3080.. see good amount of sovereign bids. below 1.3000

GBP... as per expected buying contnued the cable.. should see teh same trend contnue today as well.. range 1.5460/1.5580

JPy.. same view contninues as of yesterday.. sell upticks.. high for teh day shoukld be 87.30... keep short for eventual move below 86.00

INR.. expect the range of 46.80-98 levels.. prior to credit policy due today.. however.. with 25 bps hike discounted.. and RBI harping on growth momentum.. expect the INR to eventually get stronger.. range of 46.70-75 is to watch for.. break of it will target 46.45.. failure above 47.10...

happy hunting :thumb: