oct industrial output fell 5.1% y/y
but april-oct is +3.5% ...............taking refuge into this
positive amongst negatives .................short Jpy-inr dec two contracts at 67.66
stop 68.12
exited two fresh dec jpy-inr shorts at 67.21
(entry was at 67.50)
today JPY INR jan opened at 67.70 (our stop was at 67.73
JPY INR dec openied at 67.2475 (our stop was at 67.53)
To accomodate heighetened overnight volatility, stops were scaled up further 50 paise
and the positions are continued.
In view of the all important event , its better to stay away from dollar-Rupee, pound-rupee and
euro rupee. The trade may end +/- 1 rupee on Monday opening itself.
However, Looking at Indian central bank intervention in the past and with a opinion
that Monday may not be "That bad " after all the negativity, infact USD-INR may
open around 51.75. However shorting plain dollar rupee is riskier.
Thus instead of plain dollar-rupee sell, we do it through YEN-RUPEE. By adding on two more
Dec shorts At 67.50. with a Tight stop loss @ 67.75
Got stopped from eur-inr due to move in $-rupee in last half hour. the whole day it was idle !!
Eur-USD was idle but due to dollar-rupee got stopped in eur-inr
some big investment flows in pound took it higher vs.dollar thus stopping us out there too.
Now resorting to sell dollar again but changing currency pair:-
Sold JPY-Rupee Dec @ 67.03 Stop: 50 paise
Sold JPY-Rupee Jan @ 67.2325 Stop :50 paise
Sold dollar-Rupee DEC @ 52.0250 Stop: 16 paise
short Jan $/re @ 51.84
stop: 51.97
short Dec gbp-inr @ 80.5425
stop: 81
short Dec eur-inr @ 69.2650
stop: 69.7650
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