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Global View of NTD as on 3rd Aug 2013


DollarRupee closed at 61.10 versus previous week close of 59.04. We had mentioned in our earlier report that Currency is set to rise to 60.50. Post the new high with great force on closing basis, USDINR can move up a little in the beginning of the week. The broad range for USDINR will be 59-63 for the coming week.



Dow Jones closed higher this week as compared to previous week. It closed at 15658 versus previous close of 15553. However, we maintain that we see an uptick from here only to a maximum of 15800. Our bias strongly remains downwards. Range for this week would be 15300-15800. On the downside, below 15300 it can reach up to the levels of 14800 and can go even further down.

Japanese markets closed at 14466 as compared to 14147 last week. They closed higher this week however it still remains corrective market. The range for Nikkei 225 is 15000 on the upper side and 13550 on the lower end.

Shanghai market closed at 2029 versus previous close of 2011. We believe that Chinese markets are bottoming out and 1980 would act as a support. The range for this week will be 1950-2100.


Gold closed lower this week at 1311 versus previous close of 1333. Gold touched a high of 1350 and turned downwards from there. The range for this coming week would be between 1250 and 1350. Above 1380 we can see a large up surge in Gold.


Brent Oil closed at 108.93 this week versus close of 107.11 in previous week. Brent touched a high of 110.08 however it reversed from there. There seems to be supply near 110-111 and we do not see Brent crossing 111 easily. The range for Brent Oil this week would be between 107 and 111. Above 111, we can see it rise up to 114. Crude Oil closed at 106.85 versus previous close of 104.63. It was volatile this week; made a high of 108.76 and a low of 102.69 before closing at 106.85.


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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