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Global View of NTD as on 31th Aug, 2013

Will USD/INR Correct ???


CURRENCY

USD/INR

In this week, we saw solid expansion of prices post 65.46 which was previous week high, including intra-day volatility, gap-ups also gap-downs. The whole nation right now from the common man to the top Government Authority RUPEE was in highlight. There were several jokes moving on the street on Dollar-Rupee. USD/INR made a new life time high of 69.09 to close at 66.71 overnight on Friday. Interestingly, this week low which is 65.69 is near to previous week high.


USDINR Spot



Dow Jones

STOCK MARKETS

US
As per our Automated Signals, Dow Jones are still in a sell mode forming a support at 14500 and 14200. EXIT on all rallies is advised.

Japan
This week Nikkei 225 will move in parallel to the movement of USD/JPY.
 
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, 1435 target which we had mentioned in the previous week has almost reacted from that. On the downside we expect 1350, 1325, 1310 and on the higher end 1430 and 1450. Domestic gold prices are at all time high, profit taking is advisable for medium term.


OIL

After Egypt, Syria news provided momentum in Brent Oil which was able to close above 112 and upside up to 120 is not ruled out. However, any close below 108 will cause a sharp downtrend in Brent Oil.


(31.08.2013)


























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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