Daily market Views

[sriharishine]

As the GU was moving high for the past couple of weeks, this week there are more possiblity for retracement right?

 

[ritwijmahant]

yes.. 46.10 we have strong support as 200 SMA in daily charts.. will b a tough one to break that..initially..

yes.. expecting retracement.. possiblly towards 46.33.. cant rule out 46.39.. which is cloud top in daily charts.. and shud see taht level in order to fill in the gap in between friday close and today open. may happen today or tomorrow..

was small long intraday.. but out now.. waiting for 46.30+ in OTC market to go fresh shorts.. with s/l at 46.45.. and target 46.10 again..

cheers

 

[ritwijmahant]

Morning ppl

3 Aug 2010

as expected.. euro started the new month with a bang and went thru the resistances easily.. and almost achieved teh target of 1.3199.. expect a small restacement today.. but not much.. range expect tooday is 1.3120-1.3190.. use dips go add longs

GBP.. contnuing to be strong.. and expect a major rally to contnue and cable to shoot up much high compared to euro with more positive sentiment regarding british economy.. 1.5780 shud provide a good support now.. use dips to go long .. eventual target 1.6000+... may b by this week..

JPY.. same view contnues.. stay short.. sell at 86.50.. s/l 87.05.. first target 85.75.. then closer to 85.. howeever as we come clsoer to 85.00 be weary of japanese central bank interventiopn.. first verbal.. and as it wont have any effect.. soon actual market intervention.. if dips below 85.00 can go small long with a tight s/l.. for one uptick..

INR.. 46.10 should break today.. however its crucial to have a break in daily charts.. if so.. first target will be 45.96.. range for today.. 45.95-46.25..

cheers

 

[ritwijmahant]

4 Aug 2010

morning everyone..

euro zoomed past key resistance of 1.3190 easily and went all teh way higher.. expect dollar weakening to continue again.. till teh weekend data release.. for slight longer term tarders.. stay long till 1.3490.. for today.. feel range of 1.3175 and 1.3280 to continue.

GBP should contnue its rise upwards again. although some profitr taking will emerge closer toweards 1.6000.. expect range today 1.5870- 1.6010..

JPY contnued to get stronger as per view.. expect it to rise past 85.00 once before friday.. expect range 84.80/85.80 for teh session.. long below 85.00 with a tight s/l.. for once upticks to 85.80 again..

INR.. 46.10 seems to be a tough nut to crack for the time being.. (200 DMA).. some profit takig by onshore and offshore players yersterday supported the pair well despite dollar falling elsewhere.. expect range of 15-35 for the day..

trades.. sell usd/inr 46.35.. target 46.23... s/l 46.43..
Buy usd/inr 46.18.. target 46.33.. s/l 46.07

OTC spot levels.

happy hunting. :thumb:

 

[ritwijmahant]

trade of 46.18 long executed.. however .. out of same at 46.23,. heavy flows seen in market..

Trade now
Sell 46.27.. s/l 46.33.. for back to 46.18

 

[ritwijmahant]

5 Aug 2010

Morning everyone..

dollar regained some ground on back of better than expecetd US data adn some profit taking ahead ogf crucial US data tomorrow.

euro.. Held the upside of yesterday's range of 1.3280..and fell below 1.32. zero data today should expect anoterh ranged session. expect the pair to trade in teh range of 1.3125-1.3225.

GBP.. failed to break 1.6000 psychological resistance and came down on profit taking.. expcet ranged session till Bank of England today.. range expect 1.5825-1.5950.

JPY.. as epr expecetd.. 85 was held of.. a lot of verbal intervention from japanese guys.. the pair has returned above 86.00 however expect it to remain there for short term... have just shorted small at 86.10.. will add more shorts at 86.30.. for target of 85.50.. s/l 86.55

INR... getting painful to trade in flows driven narrow market.. expect range 46.10-30.. failure to berak below 46.10 till this weekend.. and expect a rally towards 46.55 once..

trade: long at 46.18. .first target 46.35.. next target 46.55..with s/l 46.08..

one day closer to weekend.. happy hunting.. :thumb:

 

[ritwijmahant]

euro held off the range bottom of 1.3125 as expected.. longs taken out partially at 1.3185. rest stop loss at cost..

GBP no trades at teh moment with bad results by barclays pulling down cable.

JPY short at 86.30.. for 85.50.. with stop at 86.55

INR.. just two words.. stay out of teh bloody currency... well thats more than two words.. but you get teh message..

 

[ritwijmahant]

6 Aug 2010

morning everyone..

markets contnued to be range bound again yesterday ahead of data realse from US today evening.. bad unemployyment figures prompted some dollar selling but profit taking emerged soon..

expect range bound trading to continue for today.. atill US non farm pay rolls release 6.00 pm IST.

Euro range 1.3160-1.3230.. nest support of yesterday's ay 1.3125 and resistance at 1.3275.. biased to buy dips..

GBp.. again range play.. 1.5830/1.5960.. bias remains for intraday buy on dips

JPY.. fell short of target of 85.50 but saw low of 85.68 in US session.. use upticks to sell usd/jpy.. expect range 85.80-86.30 for teh session.. keep short for evenyual break below 85.00

INR.. 46.10-25 range play for a while.. breaks eitehr side.. go short or long.. fro at elast 20 paisa play eitehr way.. however.. sitting short for on hopes we will see eventual break below 200 MA of 46.10.. will add shorts at 46.08.. target 45.95..

Nifty.. would like to go long at 5435.. first target 5475,.. second target 5525.. s/l velow 5410..

TGIF
:clap:

 

[ritwijmahant]

took profit of inr shorts at 45.9850.. will go short again at 46.05.. for 45.90 and then 45.80.. OTC spot levels..

cheers:thumb:

 

[ritwijmahant]

still waiting to go short.. will short again at 46.13.. or at day close.. and hold it overnight...