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Global View of NTD as on 23rd June 2013


This week all the ratios have changed post the big Fed meeting. Fed Chairman Ben Bernanke said the bank could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014 if the economy picks up as the central bank expects. This bought a caution worldwide and we could see a big hit amongst all 3 groups: Currencies, Commodities & Equities. We could see trend reversals in almost all assets across globe. There has been and would continue to be reallocation of money between assets globally. We require follow up action this week to confirm the changed trends amongst indices, commodities and currencies.




STOCK MARKETS

US
As we had maintained we saw constant supply at 15300 levels, the US markets fell further this week. It closed at 14801 from previous week close of 15074.It has given a 2 month reversal and can drag down the Dow Jones to 13700 to 14000 levels with a minor halt at 14450/500.

Japan
Japanese markets closed higher this week however remains range bound. It closed at 13230 versus previous week close at 12721. It has a support at 11800 and resistance at 13600 levels. It will remain in this range.

China
Shanghai market continued to show weakness and closed at 2073 versus previous week close at 2162.It took support at 2060. Below 2060, we see support at 2025.The Shanghai index continues showing weak performance as the other emerging market indices.

GOLD
Gold again witnessed a major fall this week wherein it fell from 1390 to 1295 in the week. It has broken demand levels between 1360 and 1380 for Gold. Though there was a slight bounce back on Friday from lower levels, the trend for gold would continue to remain downward until it breaks 1335/1360 and then 1380 level.

OIL
Crude oil was unable to sustain above 98.25 and fell after making a high of 99.20. It broke the support at 96.20.It has a support at 92.50 and then 91.50. Brent made a high of 106.66 and closed above 100 at 100.94. Broad range for Brent oil is between 96.50 and 106.50.


(23.06.2013)

























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