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DOW JONES: Last week Dow Jones has closed positive at 17215, near upside resistance level as we mentioned in our earlier weekly report. As per long term daily charts prices are showing negative divergence with strong resistance of falling 100 SMA at 17263.  

Going ahead we are expecting fresh downside reversal in Index from its resistance/ supply level (earlier Break Down level 17400-17500/100SMA) to downside 16800/16700. 

SHANGHAI COMPOSITE: Last week Shanghai Composite has broken its two months range of 3000-3250 and it has ended at positive at 3391.35. Week on week Shanghai Composite has given a first strong weekly bullish candle which will result in further upside in Index up to 3400/3500 (Previous Breakout Level).
Going ahead we are seeing limited upside in Index.The previous Breakout level will act as strong supply zone in coming week and we can see fresh downside reversal in Shanghai composite.


After giving a breakout USDINR immediately reversed from its lower top formation (66.90) from where pair has made its immediate low of 64.62.
At this juncture we are seeing limited fall in pair up to 64.30(Previous Breakout level). We at team NTD expecting bounce back in pair of 1$ up to 65.80/66 in coming period.  

{17 Oct,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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