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
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
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