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Global View of NTD as on 27th July 2013

-Silence before the storm!


Strategy: We had mentioned last week that “ 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 ”. We continue with this strategy. We at NTD Trading, highly recommend staying away from overseas stock markets as we enter August. Any good news would initiate “ Sell on news ” and bad news will only gather momentum for the downfall. We would not be surprised if August turns to be a major turning point in this Calendar Year. This would have an impact over all markets.


USDINR Spot



STOCK MARKETS

US

Dow Jones closed almost flat as compared to previous week. It closed at 15559 versus previous close of 15546. We see an uptick from here only to a maximum of 15800. Our bias strongly remains downwards. 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 14130 as compared to 14636 last week. Japanese markets have revered as we had forecasted. The range for Nikkei 225 is 14600 on the upper side and 13550 on the lower end.

China
Shanghai market closed at 2011 versus previous close of 1993. 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

Our Call on Gold was proven absolutely correct when Gold closed at 1333 after making a high of 1347 versus previous close of 1295. The uptrend in Gold continues for the coming week. Range for the coming week would be 1280 to 1380.


OIL

Brent Oil closed at 107.11 this week versus close of 108.48 in previous week. Crude Oil closed at 104.63 versus previous close of 108.23. Crude Oil can correct up to 100 while upside remains capped at 106.50. Brent would also lose momentum. In this week we saw reduction of premium between Brent Oil and Crude Oil and even witnessed 2 such days where Brent was trading at discount from Crude. We see that in coming days, the premium between the two will remain lower and one can see sharper correction in Brent.


(27.07.2013)

























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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