12 October, 2011

eur-inr short

Sold OCT Eur-INR at 67.64 .
Stop loss 68.65
TP : 65.55

In our previous update (Oct 4) we had given 3 ideas. (long $/re, short Jpy/re , long gold).

Long $/re was exited through TP trigger. We continue to hold and monitor our JPY-INR shorts.

International Gold price at that time was $1624-- we had indicated $100 rise. $56 has already been achieved.(current price $1680) Basis this, we had given a recommendation to buy gold .
unfortunately due to extreme volatility in USD-INR, we were stopped out of Dec gold , But yet the target level of Rs.26733 has been visited today.

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