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WEEKLY REPORT


BE READY FOR PRE - BUDGET VOLATILITY RIDE.....




CNXNIFTY (WEEKLY CHART)



BANKNIFTY (DAILY CHART)

BANKNIFTY:


Compare to main Index Bank nifty has failed to perform in last week and it has given a weekly negative close of 19073.55.

For the coming week we see Banknifty have strong support of 55 DSMA at 18850 levels, we are expecting in coming week Bank nifty can show fresh bullish rally to upside levels such as  20000/20500.

RSI: On daily charts the RSI Indicator is in neutral @45, any prices bullish reversal it will positive for coming week.




CNX MIDCAP:

As per the daily chart formation of CNXMIDCAP suggesting prices are forming Double Top Formation at 13273 and end of week (On Friday) it has given negative close of 13200.40 after making high of 13281.35.

For the coming week we see CNXMIDCAP have strong resistance at 13283.05, we advice book profit on every rise and maintain strict stop loss of 13125.

CNXSMALLCAP:

After weekly bullish reversal CNXSMALLCAP is in strong bull strength and last week it closed positively at 5664.75.

We see the trend of CNXSMALLCAP will remain positive and we are intact on our target of 5725 for coming week.



GLOBAL CURRENCY


US Dollar Index: Week on week US Dollar Index losing its momentum strength, on higher side we see Dollar Index have strong resistance of falling channel pattern from 95.72 levels to current levels @ 94.34.

In coming week any decisive close below 94.05 we can see sharp fall up to 92.75 in US Dollar Index.

EUR/USD:
EUR/USD on weekly price chart suggesting base formation on current level, Last week it has given a positive close of 1.1381 with Doji candle pattern.

For coming week we have bullish view on EUR/USD, the level of 1.1270 is a strong support level and from current level we can see fresh positive rally in EUR/USD.

USD/JPY: Last week in USDJPY didnt see a major movement and it has given a flat to positive close of 119.03.For coming week USDJPY will maintain the range between 117.50 /120.50.

USD/RUB: From the past three week USDRUB is in negative trend & week on week it has given negative close of 61.7150.

For the coming week trend will remain negative any decisive close below 60.90 levels we can sharp fall in USDRUB up to 59/59.30.



PRECIOUS METALS

GOLD:  On earlier weekly report we had mentioned that GOLD is on weekly basis forming an ascending channel pattern with strong support at the level of 1200$ levels and last week it has closed near its support levels at 1201.90$.

For the coming week we are expecting GOLD will show positive reversal from channel support to upside levels. We are continue with our targets 1350/1365$ with stop loss of 1180.

SILVER: Silver has broken its important weekly trend support and given negative closed 16.20.We advice to be cautious for the coming week and maintain strict stop loss 15.50.   


INTERNATIONAL MARKET

DOW JONES: We have achieved our target in Dow Jones as earlier weekly report mentioned fresh new high and it has made life time high of 18144.29 and given highest weekly close of 18140.44.

For the coming week the positive trend will remain intact and we can see fresh new high in Dow Jones, we advice to maintain strict stop loss of 17800.  

BOVESPA (BVSP): Previous week we had mentioned Bovespa (Brazil Market) is outperforming and it has came out after eight weeks of consolidation with weekly positive close.

Last week it has made high 51867.82 and given positive close of 51237.70.

For coming period also team NTD is very much bullish on Bovespa (Brazil Market) with target price of 58000/60000.
 


Report Inputs by Charan More, Deepak Bhoj, Avinash Karle & Team NTD  


{21 February 2015}


























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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