24 October, 2011

stops hit but TP`s also happened

Our stops were triggered in USD-INR and Jeera(3T). But those were more than compensated
by Gain in Gold contract (1kg) . Our gold TP was triggered yesterday Indeed a fantastic trade.
as we captured the whole up move from 26536 to 26881

However, on this diwali we remain on sidelines as gold can mover either ways depending on European outcome Tomorrow. Also $/re is closed for next two days. Which means India gold can open Gap up/ down on Friday.

Our USD-INR view for rupee to weaken is still intact. INR is just moving on Euro news, fluctuations.

Trade for the day :- (intention to recoup yesterday`s stops)

Buy Nov $/re at current level of 49.9375 
Stop: 49.75

Buy Dec $/re at curent Level of  50.1650
Stop: 49.95

By end of day we expect some dollar demand to come in due to market closure.
Posted by Fuzzy Logix at 9:50 PM

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