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Global View of NTD as on 29th June 2013



Dow Jones has been in range for quite some time. It closed at 14910. It has been unable to close above 15300 for past 5 weeks. The range for Dow Jones remains between 14800 and 15300 with a downward bias. We could look at selling on every rise. Once 14800 is broken, we can see target between 14000 and 14300.

Japanese markets opened higher this week as compared to last. It closed at 13614 as compared to 13356 last week. However Japanese markets remain range bound. The range for Nikkei 225 is 12800 on the lower side and 14200 on the upper end.

Shanghai market closed at 1979 much lower than the previous week close of 2073. It will remain in between 1900 and 2075 this week. If it sustains above psychological 2000, it is positive and can reach up to 2075. On the face, Chinese markets looks oversold and 1900 could be immediate support. We can expect some positive announcement coming from the Asian Tiger soon.


Gold closed at 1234, lower compared to last week where it closed at 1295. Gold remains in downtrend. Reversal would be seen only above 1300.Up till then the down trend remains intact. Long term support can be seen at 1150-1170. There would be some consolidation seen at these levels before a further move.


We could see a certain bounce back from lower levels this week in Brent Oil. On weekly basis, it closed at 102.01 versus previous week close of 100.94. However it continues to be in the range of 99 to 106. We have seen reduction in premium between Brent Oil and Crude Oil and we believe there would be further reduction in premium. Crude oil closed at 96.45 versus 93.89 last week.


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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