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WEEKLY REPORT


DEEP OVERSOLD MARKET ...ACCUMULATE WITH LONG TIME HORIZON...


CNX NIFTY (DAILY CHART)



GOLD (WEEKLY CHART)



PRECIOUS METALS


GOLD:
After giving breakdown GOLD has given a sharp bounce up to 1215$ levels last week but again failed to sustain above those levels. Team NTD is seeing some interesting patterns development in GOLDs longer time frame chart as shown below.

We see that in falling weekly channel pattern another small rising channel pattern development is happening which is a part of base building formation in GOLD. Both channels upper level comes around the levels of 1320$ which will be ultimate breakout and also a trend changer for GOLD. As earlier mentioned we see immediate demand levels at 1160/1155$  is intact further we also dont see GOLD to fall below 1145/1140$ levels.

Team NTD is still having its bullish outlook on GOLD with limited downside at 1160/1155$.

 
SILVER: Silver is also having rising channel pattern with higher top & higher bottom formation. Week on week also silver has given a positive close at 16.14$ levels.

We are continuing with our bullish view on SILVER in coming period also.

Downside is still very limited as we see immediate demand at 15.50$ levels.



US DOW JONES


Last week we saw a huge selling pressure in Dow Jones from its resistances level of 18175/18300. The   chart structure is suggesting lower top & lower bottom formation with upside capped at 18200/18300.

Last week it has ended negative at 18024.06 with hammer candle pattern which also indicates a limited upside for the week. We are continue with our target 16000
.


{May 04,2015}

























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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