19 October, 2011

stopped out as RBI has not ventured in yet

As per anticipation the RBI has not come to sell in dollars.
The trade was based on premise that RBI would step in and intervene.

Our trades are stopped out.

We play again from the short side as we feel the move is already done for the day.But this time not relying on central bank`s presence ,hence placing tight stops.

Sold Nov USD-INR @ 50.05
tight stop: 50.16
TP: atleast 30 paise lower.

We now also resort to JPY-INR pair to recoup the losses.

Sold JPY INR nov contract @ 65.1050
Stop : 66.12
TP : 64.30

Sold JPY INR dec contract @ 65.23
stop: 66.25
TP: 64.60
Posted by Fuzzy Logix at 10:53 PM

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