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Global View of NTD as on 17th Aug 2013

Prepare for the big shuffle in asset classes !


We in our earlier reports (dated: 20th July, 2013) had predicted the limited upside to the Stock markets and had suggested to Sell Dow Jones on every rise and buy Gold on the other hand. This strategy has worked and we are now seeing the fall coming in. Currencies across the board have become volatile. We have yet to see the impact of the currencies which will further result in fall in Stock markets.


USDINR Spot



STOCK MARKETS

US
Dow Jones had a great fall this week. It closed at 15081 versus previous close of 15425. Our strategy on Sell Dow and invest in Gold proved to be a winner. Our bias strongly remains downwards. Range for this week would be 14800-15300.

Japan
Japanese markets closed at 13650 as compared to 13608 last week, almost flat to slightly higher. Nikkei 225 is currently at a crucial level. If it sustains below 13600, we can see sharp downward movement up to 12500. The range for Nikkei 225 is 14500 on the upper side and 12500 on the lower end.    

China
Shanghai market closed at 2068 versus previous close of 2052. It has given higher close week on week for past 5 weeks. It made a high of 2199 but came down later and closed at 2068. We believe that Chinese markets are bottoming out and 1980 would act as a support. The range for this week is between 1950 and 2150.


GOLD

Gold closed this week at 1376 versus previous close of 1313.50. Gold gave a strong green candle this week indicating positive move. Our target of 1380 has been achieved. The downside for Gold is now capped at 1310-1320 with high bottom base formation and it can reach up to 1425-1430 on the upside in this week.

OIL    

Brent Oil closed at 110.62 this week versus close of 108.23 in previous week. Brent touched a low of 106.32 however it reversed from there and gave a close near its high of 110.70. There seems to be supply near 111-112 and we do not see Brent breaking those levels easily. The range for Brent Oil this week would be between 106 and 113. Crude Oil closed at 107.69 versus previous close of 106.17. We do not see much upside and believe that one should sell on rise for Oil.


(17.08.2013)





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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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