Oct eur-inr current level: 66.58 / 66.59
sell at current level 66.58
Stop loss: 66.93 just above day`s high
Take profit : 65.25
sell at current level 66.58
Stop loss: 66.93 just above day`s high
Take profit : 65.25
27 September, 2011
26 September, 2011
wait .....oh those gold seekers
in our 20-sept update we had mentioned that domestic gold is a good buy so long as internationally $1760 holds. accordingly we did exit dec long when this level was under threat.
The level breached and gold fell further almost $200.
Domestic gold (dec futures) are certainly cheaper and attractive today --- no one requires our advise for that. But we would only caution to wait for consolidation signs rather than simply rushing in. Because after that one needs to only roll dec Longs into Jan and Jan Longs into feb.
We are still holding and watching our yen-rupee trade
The level breached and gold fell further almost $200.
Domestic gold (dec futures) are certainly cheaper and attractive today --- no one requires our advise for that. But we would only caution to wait for consolidation signs rather than simply rushing in. Because after that one needs to only roll dec Longs into Jan and Jan Longs into feb.
We are still holding and watching our yen-rupee trade
22 September, 2011
new trade : JPY-INR
current JPY-INR Oct: 65.38
Sell JPY at current level.
Stop : 66.67
TP : 62.60
Very fair chance of central bank of Japan intervening Heavily
Sell JPY at current level.
Stop : 66.67
TP : 62.60
Very fair chance of central bank of Japan intervening Heavily
New trades in EUR-INR , USD-INR
eur-inr OCT current 66.26 , day`s high 66.55
usd-inr OCT current 49.26 , day`s high 49.43
SELL oct eur-inr @ current level 66.26 15:09 IST
Stop loss : 66. 46
Take profit : 65.60
SELL oct usd-inr @ current level 49.26 15:09 IST
Stop loss: 49.44 (just above day`s high)
Take profit: 48.75
usd-inr OCT current 49.26 , day`s high 49.43
SELL oct eur-inr @ current level 66.26 15:09 IST
Stop loss : 66. 46
Take profit : 65.60
SELL oct usd-inr @ current level 49.26 15:09 IST
Stop loss: 49.44 (just above day`s high)
Take profit: 48.75
21 September, 2011
TP triggered on $/INR, TP done on dec gold
Sept Long $/Re was squared through limit order @ 48.29 (entry 48.0825)
Oct Long $/Re was squared through limit order @ 48.44 (entry 48.24)
Dec Long Gold was squared through market action @ Rs.28480 at 16:31 IST (entry 28036)
We remain square in view of important & unpredictable events in U.S tonight. Good night.
Oct Long $/Re was squared through limit order @ 48.44 (entry 48.24)
Dec Long Gold was squared through market action @ Rs.28480 at 16:31 IST (entry 28036)
We remain square in view of important & unpredictable events in U.S tonight. Good night.
20 September, 2011
| new trade | |||||||||
| reco date | contract | curr price(bid) | curr price(ask) | buy | sell | at Level | take profit | stop loss | trade time |
| 20-Sep-11 | 28-Sep-11 | 48.08 | 48.0825 | 48.083 | no | current level | 48.29 | 47.79 | 16:34 IST |
| 20-Sep-11 | 27-Oct-11 | 48.235 | 48.24 | 48.24 | no | current level | 48.44 | 47.99 | 16:34 IST |
| follow-up on earlier action | |||||||||
| exit oct gold | |||||||||
| reco date | contract | buy | result | action 1 level | TP | TP date | trade time | ||
| 17-Sep-11 | 5-Oct | 27730 | bought | 27730 | 27772 | 20-Sep-11 | 18:38 | ||
| 17-Sep-11 | 5-Dec | 28036 | bought | 28036 | HOLD | HOLD | 18:38 | ||
| If international gold drops below $1760, exit dec gold | |||||||||
| currently international gold is at 1778 | |||||||||
new trade
| reco date | contract | curr price(bid) | curr price(ask) | buy | sell | at Level | stop | TP |
| 20-Sep-11 | 28-Sep-11 | 48.08 | 48.0825 | 48.0825 | no | current level | 47.79 | 48.29 |
| 20-Sep-11 | 27-Oct-11 | 48.235 | 48.24 | 48.24 | no | current level | 47.99 | 48.44 |
18 September, 2011
follow-up on week-end strategy
USD-INR: Sept sell could not happen as market opened with a gap above our stop loss level.
USD-INR: Oct buy could not happen as our limit order not filled. We continue to run the limit order
EUR-INR: Bought sept contract on market open at 65 . day`s low 64.93 .stop intact . current level 65.28
take profit immediately
Gold : is up across the board Oct , dec gold up 1.28%, 1.48% respectively. Hold
oct:- prev. level 27730 / current: 28141
Dec-prev .level 28036 / current: 28445
USD-INR: Oct buy could not happen as our limit order not filled. We continue to run the limit order
EUR-INR: Bought sept contract on market open at 65 . day`s low 64.93 .stop intact . current level 65.28
take profit immediately
Gold : is up across the board Oct , dec gold up 1.28%, 1.48% respectively. Hold
oct:- prev. level 27730 / current: 28141
Dec-prev .level 28036 / current: 28445
17 September, 2011
| reco date | contract | curr price(bid) | curr price(ask) | buy | sell | at Level | take profit | stop loss | bias |
| $/inr | |||||||||
| 17-Sep-11 | 28-Sep-11 | 47.3375 | 47.35 | no | 47.3375 | on open next trading day | 47.06 | 47.56 | down |
| 17-Sep-11 | 27-Oct-11 | 47.2 | no | limit order | 48 | 46.59 | up | ||
| eur/inr | |||||||||
| 17-Sep-11 | 28-Sep-11 | 65.54 | 65.56 | 65.56 | no | open on next trading day | 66.2 | 64.8 | Up |
| gold | |||||||||
| 17-Sep-11 | gold($ spot) | 1811 | 1813.3 | 1813.3 | no | market open | 1860 | 1760 | Up |
| so long as spot view does not change, buying on exchange for oct,dec contract is safe | |||||||||
| current oct | 27748 | 5-oct 10 gms | |||||||
| current dec | 28046 | 5-dec 10 gms | |||||||
Inflation, rates, fuel
The government`s measures to counter inflation seem to contradict in itself.
Every interest rate hike is almost follwed by a hike in petrol ,diesel and LPG price.
petrol price has been invariably hiked on past three occassions latest hike being Rs.3.18
To compound the situation further INR has been depreciating. Between 30-june till date INR has depreciated almost 7%
Despite all rate hikes, inflation is still above comfort zone. And We believe another 75- 100 baiss points rate hike are still on the cards
Every interest rate hike is almost follwed by a hike in petrol ,diesel and LPG price.
petrol price has been invariably hiked on past three occassions latest hike being Rs.3.18
To compound the situation further INR has been depreciating. Between 30-june till date INR has depreciated almost 7%
Despite all rate hikes, inflation is still above comfort zone. And We believe another 75- 100 baiss points rate hike are still on the cards
Gold up and down
In last few days international gold prices have come off from $ 1920 to $1761 in 10 days.
What happened ?
To understand that -- first let`s agree that gold was above 1900 because of uncertainty about greece and euro zone re-action to it. So markets were Risk-off thus buying into gold.
European central bank along with a co-operation from US,UK,Swiss assured dollar availability
and ample liquidity into the european markets. This led to Risk-on climate , and the long speculators did some profit taking -- essentially reducing the weight before any further trickle of news from Europe.
Gold in Indian Rupees too reacted, The kotak gold fund has come off from august high of 2782Rs./ gram to close this week at 2647.60 Rs.
What happened ?
To understand that -- first let`s agree that gold was above 1900 because of uncertainty about greece and euro zone re-action to it. So markets were Risk-off thus buying into gold.
European central bank along with a co-operation from US,UK,Swiss assured dollar availability
and ample liquidity into the european markets. This led to Risk-on climate , and the long speculators did some profit taking -- essentially reducing the weight before any further trickle of news from Europe.
Gold in Indian Rupees too reacted, The kotak gold fund has come off from august high of 2782Rs./ gram to close this week at 2647.60 Rs.