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Global View of NTD as on 6th July 2013



USDINR Spot



STOCK MARKETS

US
Though Dow Jones closed higher this week at 15127 versus previous close of 14904, it is still in range. It has been unable to close above the important 15300 mark thus showing weakness. The range for Dow Jones remains between 14800 and 15300 with a downward bias. We could look at selling on every rise. Once 14800 is broken, we can see a target between 14000 and 14300.

Japan
Japanese markets have broken the 14200 resistance this week and closed at 14321 as compared to 13614 last week. It is still in correction phase and can go upto 15000. However, the Japanese markets should turn to South from there. The range for Nikkei 225 is 12500 on the lower side and 15000 on the upper end.

China
Shanghai market closed at 2007 taking a turn from the oversold territory, showing some support at these levels as mentioned last week. We can expect it to raise upto 2075/2150. Below 1980, we can expect it to touch previous lows of 1850.


GOLD


Gold made a low of 1207 this week and continued to consolidate there and closed at 1221.95. As mentioned earlier, 1150/1180 would be support and any move above 1280/85 could lead to an upward move up till 1350/1375.


OIL

Though Brent closed higher this week, we believe there would be further reduction in premium between Brent Oil and Crude Oil and hence we maintain recommend to Sell Brent Oil and buy Crude Oil. Crude oil closed at 103.48 versus 96.45 last week. We emphasize more on Brent as that would have a greater impact on our economy. Brent closed at 107.71 versus previous week close at 102.01. The recent upsurge has been on back of tension in Egypt. We believe that this is temporary and would be cooled off soon. We maintain our target of $80 followed by $67 and upside capped at $112.


(06.07.2013)

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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