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Global View of NTD as on 20th July 2013



Strategy:
We believe this is the perfect timing for shift of asset classes. One can look at an exit from Dow Jones and can consider of investing in gold on a pair basis.


USDINR SPOT



STOCK MARKETS

US
Dow Jones closed higher this week at 15544 versus previous close of 15441. Dow Jones has closed near the previous high. We however see an uptick from here only up to 15800. We have noticed that there is no Euphoria this time around when it touched previous high. This is a sign of caution. On the downside, below 15300 it can reach up to the levels of 14800 and can go even further down.

Japan
Japanese markets closed at 14590 as compared to 14483 last week. As predicted, Nikkei reached to 15000 levels. We do not rule out a slight up move from here. However, we believe that the Japanese markets should turn to South from there. The range for Nikkei 225 is 15300 on the upper side and 13500 on the lower end.

China
Shanghai market closed at 1993 versus previous close of 2039.50. We believe that Chinese markets have bottomed out and 1980 would act as a support. On the higher side, there is some supply seen near 2075-2100 levels.


GOLD

Gold closed at 1295.05 versus previous close of 1284.15. Above 1300, Gold can reach up to 1345/1380. 1225/1240 is a good area to accumulate gold. 1240 was the monthly close of Gold. We believe that gold has bottomed out in the short term.


OIL

Brent Oil closed at 108.48 this week versus close of 109.07 in previous week. Below $107.71, we can see a sharp down tick which would also be observed in Crude Oil. The range for Brent Oil for this week would be between 107 and 109.50. Crude Oil closed at 108.23 versus previous close of 106.17. We were proven absolutely correct about reduction of premium between Brent Oil and Crude Oil wherein the Current premium is 25 cents compared to $8 earlier.


(20.07.2013)

























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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