Rate two-way despite sharp fall in GBP; likely cross spreaders supporting on the dip as active sellers attempt to push the rate lower into major support around the 1.2780 area; stops baked on the dip under 1.2850 today but bids were hefty resulting in a rally.
Bottom may be forming around the 1.2850 area as it has bounced twice from there. 50 bar MA failed now likely to offer resistance and a close above suggests the bottom will be in. Sell signal from the toolbox validated by the drop but be cautious as trend line support is holding.
Rate falls hard as stops and aggressive selling drive the rate to a new 7.5 year low; cross-spreaders continue to sell GBP across the board but a short-squeeze is in progress. Overnight economic news seen as neutral to bearish; rate trading on technical's now.
Sell-signal from toolbox likely over after three-figure bounce from lows. Signs of the bottom may be showing up as "smart" buyers reported in GBP overnight and after the London fix.
After undergoing a coronary angiography, Prime Minister Dr. Manmohan Singh was discharged from the All India Institute of Medical Sciences (AIIMS) today morning.
Dr. Singh was taken to India’s premier state-run medical facility on Wednesday after he complained of chest pain.
Following this, doctors took decision to carry out heart-related examinations.
Deepak Sandhu, principal information officer, “Yes, the prime minister is back.”
It seems that the government of India does not want to leave any stone unturned to ensure full awareness about welfare and empowerment of girl child.
Therefore, Minister for Women and Child Development, Renuka Chowdhury announced that the country would celebrate January 24th every year as ‘National Girl Child Day’.
With the mood turning watchful, many frontline stocks have drifted lower after making a bright start.
At 11:40 a.m., the Sensex was up by 42 points at 8821, while the Nifty gained 11.35 points at 2717.50.
Realty, pharmaceutical, consumer durables and metal stocks lost their earlier gains and turned weak. Various from PSU, FMCG, auto and power stocks too have declined on account of selling pressure.
Rate two-way despite sharp fall in GBP; likely cross spreaders supporting on the dip as active sellers attempt to push the rate lower into major support around the 1.2780 area; stops baked on the dip under 1.2850 today but bids were hefty resulting in a rally. 
Rate falls hard as stops and aggressive selling drive the rate to a new 7.5 year low; cross-spreaders continue to sell GBP across the board but a short-squeeze is in progress. Overnight economic news seen as neutral to bearish; rate trading on technical's now. 
After undergoing a coronary angiography, Prime Minister Dr. Manmohan Singh was discharged from the All India Institute of Medical Sciences (AIIMS) today morning.
It seems that the government of India does not want to leave any stone unturned to ensure full awareness about welfare and empowerment of girl child. 
With the mood turning watchful, many frontline stocks have drifted lower after making a bright start. 
