CURRENCY VIEW

Major Forex News
Yen Rises With Swiss Franc on Global Growth Concern
The yen jumped the most in almost three months against the dollar and five weeks versus the euro as Chinese manufacturing shrank and stocks fell around the world, reviving demand for the safety of Japan’s currency.
The yen surged as much as 2.7 percent versus South Korea’s won and 1.8 percent against the Mexican peso as Economy Minister Akira Amari said equity losses can boost the Japanese currency. The Swiss franc climbed the most against the euro since the central bank imposed a currency floor in 2011. South Africa’s rand dropped for an 11th day, the longest losing streak in 25 years. The Dollar Index fell after reaching a three-year high.
The yen strengthened 1.4 percent to 101.67 per dollar at 7:22 a.m. in New York after climbing as much as 2.3 percent, the most since Feb. 25. It slid to 103.74 yesterday, the weakest since October 2008. Japan’s currency rose 1.2 percent to 131.04 per euro. The dollar dropped 0.2 percent to $1.2888 per euro.
The MSCI Asia Pacific Index of shares tumbled 3.3 percent, the Stoxx Europe 600 Index slid 1.9 percent and futures on the Standard & Poor’s 500 Index expiring in June fell 0.8 percent. An index of Chinese factory output declined to 49.6 in May from 50.4 the previous month, HSBC Holdings Plc and Markit Economics said today. A euro-area composite index based on a survey of purchasing managers in services and manufacturing was at 47.7 from 46.9 in April, Markit Economics said. Readings below 50 indicate contraction.

CURRENCY VIEW

Major Forex News
Yen Rises With Swiss Franc on Global Growth Concern
The yen jumped the most in almost three months against the dollar and five weeks versus the euro as Chinese manufacturing shrank and stocks fell around the world, reviving demand for the safety of Japan’s currency.
The yen surged as much as 2.7 percent versus South Korea’s won and 1.8 percent against the Mexican peso as Economy Minister Akira Amari said equity losses can boost the Japanese currency. The Swiss franc climbed the most against the euro since the central bank imposed a currency floor in 2011. South Africa’s rand dropped for an 11th day, the longest losing streak in 25 years. The Dollar Index fell after reaching a three-year high.
The yen strengthened 1.4 percent to 101.67 per dollar at 7:22 a.m. in New York after climbing as much as 2.3 percent, the most since Feb. 25. It slid to 103.74 yesterday, the weakest since October 2008. Japan’s currency rose 1.2 percent to 131.04 per euro. The dollar dropped 0.2 percent to $1.2888 per euro.
The MSCI Asia Pacific Index of shares tumbled 3.3 percent, the Stoxx Europe 600 Index slid 1.9 percent and futures on the Standard & Poor’s 500 Index expiring in June fell 0.8 percent. An index of Chinese factory output declined to 49.6 in May from 50.4 the previous month, HSBC Holdings Plc and Markit Economics said today. A euro-area composite index based on a survey of purchasing managers in services and manufacturing was at 47.7 from 46.9 in April, Markit Economics said. Readings below 50 indicate contraction.

NIFTY FUTURE UPDATE

 “We are selling daily NF from 6232…Yesterday, I told you to book profit on all short position @5982″

PROFIT= 250 Points

Profit on NF per lot: Rs.12500/1lot

Yesterday We told our all client on blog ” We Buy NF around 5972 with Stop loss of 5958 and Target 6042 to 6078

 “Invest a few moments in thinking.  It will pay good interest.”

Last Close :5966

Nifty May Open with Gap of 10 point positively.

What will Today..???

Suppose to if not Break 5958 (closing Base)….,then Wait for target 6042-6078 nothing Else

Today’s Support 5945-5959

(Fresh Buying will be create 5945 around)

Long Term prediction on Nifty Future:

Don’t be suprise if NF will 6560 to 6635 coming days…

Short selling will born only around 6300 for short term only

kindly pass your comments if not yet join, then join us now!!!!!!!!!!!

NIFTY CALL UPDATE

 HI ALL ....OUR NIFTY SELL CALL GIVEN 200++ POINT IN SELL CALL WHICH WAS GIVEN NEAR 6200 NOW CURRENT MARKET PRICE IS 5976 .

PER LOT PROFIT ---->  (LOT SIZE) * (GAIN)
                               ---->  50*200 = RS.10000/-

THIS IS OUR PLATINUM SERVICE CALL

KINDLY PASS YOUR COMMENTS...........!

NIFTY FUTURE VIEW

NF will open flat (6155-6166)
Buyer will enter 6136-6145 for targets 6176-6188

Suppose to crossover 6185 and stay above it for more time…then 6208-6225 very soon.
Weakness is only below 6084 below…therefore, go long in deep…!!!

Nifty closed up 151.35 points at 6146.75 while Nifty futures closed at 6161.50, premium of 14.75 points. FIIs bought in Cash, net buy 1646.95 Crore while DIIs sold in Cash, net sell 747.11 Crore. FIIs bought in Index future, Index Option but sold in Stock future, net buy 189.73 Crore.
FIIs bought 86198 contracts of Index futures and sold 78101 contracts of Index futures which come to net buy of 8097 contracts worth 246 Crores with net open interest increasing by 24963 contracts.
Considering all above facts it seems that FIIs again went long in Index futures…!!!
Yesterday the Market spurted after Reserve Bank of India said it would take into account falling inflation while deciding on policy initiative in its review next month.
RBI is scheduled to announce mid-quarter review of monetary policy for 2013-14 on June 17.
Technically Nifty futures closed past several hurdles yesterday showing bulls will continue to dominate in a day to come.