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BANKNIFTY: Though index has broken its important weekly support level of 17750 on daily charts but on weekly closing wise it has maintained that support level very well.

Coming week we see Index to touch the level of 18350/18550 on decisive close of 18050. We are advising to accumulate good quality stocks in Banking Index with1-2 year time horizon.

Though short term structure of index is not so good with lower high & lower low formation, Index is maintaining its important level of 12500 on closing basis.

12800/13200 is the two major reversal points for index which will start its upward journey again.

CNX SMALLCAP: Again index has managed to hold its important support level of 5270/5250 on closing basis. Though short term structure is not so good for index we are not seeing more down side in coming week.

In short term we see major resistance at 5600 level for Index and any decisive monthly close above this level we can see further upsurge in Index.


US Dollar Index:  Weakness in US Dollar Index is continued, Last week it has made low of 93.96 and ended at 94.91 with lower high lower low formation.
Upside is capped at 96.80/97.60 for coming week & we are also continue with our target of 93$ following by 88$.

EURUSD: We have almost achieved our near term target in pair after making high of 1.1394.  The bullish trend is intact with limited downside at 1.1090/1.1050.

Coming week also its upside journey will continue with bullish momentum and we are also continue with our upside target of 1.16 in EURUSD.

USDJPY: Week on week the range of pair is getting narrow as the price formation of triangle gets narrowed. We see upside is capped at 120.60/75 as we will see selling pressure at these levels.

In coming period on break of its important support level of 119 we can see its fresh downward journey to its target towards 112.


Gold: Week on week gold has given a positive close of 1187.60$. As earlier mentioned base building is happening with immediate demand level around 1160$/1155$ levels.

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: This week also silver has given a positive close of 16.447 with its immediate demand levels at 15.50$.

We are continuing with our bullish view on SILVER in coming period also. 17.30 is major bullish reversal point from where we can see sharp upsurge towards its new journey.

Downside is limited at 15.50 for the coming week.

Technically we see huge triangle formation is happening in Silver with narrow range. Ultimate breakout point is 17.30 and also major trend changer for Silver.


Though Dow Jones has made bullish candle in last session but failed to cross its previous important resistance levels of 18300.

We have to watch follow-up action of that bullish candle closely as multiple tops seen there. We are continuing with our target 16000 in Dow Jones for coming week.

CBOE VIX: CBOE VIX last week closed at 12.86 level almost near its short term bottom suggest that any time fall is due In Dow Jones as both index are at their border levels (As mentioned above that Dow Jones is near its resistance level simultaneously CBOE VIX is also near its short term bottom.)

Any further up move towards the level of 20/22 will lead Dow to fall up to 16000.

BOVESPA: Team NTD has achieved its first target of 57000 completely. Now in coming period we will see momentum with speed to next target of 63000 as well 74000.

SHANGHAI MARKET: After buy report on 18th October, 2014 (at 2341) shanghai market has made a high of 4572 almost double in a span of just seven months.

 In the near term closer to 4400 to 4450 levels, Team NTD sees supply in Shanghai market. 3750 to 3800 is a good level to enter, at this juncture profit taking is advisable, and however the bull market is still intact. But we need a little price wise and time wise corrections to happen.

{MAY 08,2015}

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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