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DOW TO CRACK 16000 SOON ????




After giving a bullish view in mid February of 2015 on BRAZIL (BOVESPA), Index continues its journey towards its fresh highs with higher high & higher low formation. Again its an alert that Team NTD is very much bullish on its BRAZIL (BOVESPA) report as we are seeing index to continue outperform in coming period also...

We are seeing index to touch the levels of 57000 following 63000 in near term, 52000/51500 is a fresh new base for index now. We will keep u updating on index as BOVESPA is in super Bull Run...


After making its panic bottom in March end volatility at 8269.15 CNX NIFTY managed to come in track in its rising channel pattern. For coming week 8630 is an important resistance level to watch. Any decisive close above these levels we can see CNX NIFTY to touch the level of 8680/90. Support is at 8490 for coming week.

Though CNX NIFTY has made big red candle on monthly charts breaking its last months low but refused to close below that level (i.e. 8470).

Compare to main index Bank Nifty is very much weak and given close below its previous months low indicating selling pressure to continue at every rise.18750 is an important resistance level for index till that selling pressure will see in same.
We also advice to exit or book profit on every rise.

Compare to other major indices CNX MIDCAP has managed to sustain at current levels indicating some consolidation in index.12750/12850 levels are important support levels of index for coming week. Strengthening of Index to continue in coming period also this will inch index to the levels of 13325/13410.
Coming week downside is capped at 12850/12750.

Even CNX SMALLCAP has a same structure as CNX MIDCAP showing strength compare to other major indices. Multiple supports are seen at 5650/5570 levels for coming week. We expect limited downside for coming week in Index as its already showing strength and outperformance compare to other indices.

Coming week we expect 5790/5850 levels in CNX SMALLCAP.


US DOLLAR INDEX: After FED meet DOLLAR INDEX is in continues supply zone from 100.72$ levels. Upside is capped with its multiple resistance levels at 98/98.60$ after making a high of 100.78 ahead of FED meet. Though fall in Index has maintained its important level of 96$ last week but after not so good US data we expect DOLLAR INDEX to break all its important support levels in coming period.

For coming week upside is capped at 98/98.60$. Can see further pressure in Index once it closes below 96.25 /95.75$.

After making a sharp up move up to of 1.1053 after FED meet pair has managed to hold its previous important levels of 1.08/1.0860. Next immediate resistance levels for EURO at 1.11/1.1150. Any close above these levels we will see EURO to touch the levels of 1.13/1.17 in coming period.
For coming week downside is capped at 1.08/1.0860.

After sharp fall from the levels of 122 pair is in continues supply zone. We expect supply to continue in USDJPY on every rise as US DOLLAR INDEX & EURO both has given a sharp reversals post FED meet.
After breaking its immediate support level at 119 we expect pair to touch the levels of 115/115.50 in coming period following 112. 

{April 04,2015}

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