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Global View of NTD as on 24th Aug, 2013

The Whole World is Volatile !!


CURRENCY


USD/INR
Till last week we saw lack of momentum, but suddenly post 62.48 we saw huge momentum because of fear which took the USD/INR to 65.46. Despite of negative divergence the rally is still continued which is fearful. Probably we can see USD/INR scaling to new highs, till 62.48 is intact. The bottom of rally which started from a low of 60.61 did some consolidation at a high.The base prior to 60.61 was made at 58.65 so in a nut shell if we take one time range 58.65 to 62.48 the difference comes to 3.83. Thus if we add 62.48 + 3.83 it works out to 66.31. The trend will only reverse once 62.48  is shaved off on a closing basis.
Till the time USD/INR would be in a range of 62.48 to 66.31. We will constantly update once we see a reversal in our automated signals.


USDINR Spot



Dow Jones

STOCK MARKETS

US
As per our Automated Signals, Dow Jones has given a clear cut sell. The rally and the momentum on the downside has continued and we stick to the point of 14200 on corrections and upside being capped at 15425.

Japan
The pattern of USD/JPY and Nikkei is almost the same. Any change in USD/JPY would be a reflection in Nikkei.
 
China
Shanghai market were making higher bases and they are into the process of bottoming out. We stick to 1980 which shows a good support and the break out point would be at 2200.

GOLD

As per our strategy, Gold is outperforming in the Dow Jones. We can see a range of 1360-1430 for the next week.

OIL

Despite Egypt bad news, Brent Oil has not been able to close above 112. We will review our call above 112, below 108 we can see a sharp downside in Brent.


(24.08.2013)


























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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