Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Yen Carry Trade and Nifty Movement

34 sec read

Nifty Cmp : 4947

Yen is once again trading at 103.30/dollar and it takes 102.80/dollar
as it takes support twice in this month alone. If yen is gonna break
this level then we are gonna open to downtrend. Hardly,we can see
Nifty anywhere between 4740-4780 levels if yen to break support.
Because FII's turn net sellers in past four sessions and any downturn
below 102.75/dollar will further initiate selling pressure from global
hedge funds. Yen on last thursday bounced from the support 102.80 to
104 levels. But dollar loosen its strength against Yen as US Housing
recession deepens with weaker data.

Yen remains my last hope for the markets to recover. Any how we gonna
open in red but recovery is in the hands of Yen.
Japanese markets behaviour will indicate in just 4 hours from here.
Whether we gonna sustain above the past support 4913 or not.

Regards,
Rajandran R
Author- Marketcalls
Article compiled & posted from my Sony Ericsson mobile k550i.
Time: 02:16 a.m, 26,May,2008

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Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

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