And this was even as Crude Oil , Dollar - Rupee , GOLD and Silver and other metals continue to rise relentlessly.
I presume for the past few months , there was a clear shift from Indian markets to these other markets. In fact in one of my workshops we had analyzed in February 08, that a clear shift is visible from Indian stock markets to Gold.... !
GOLD which was stagnant for some time has now shown good movement both in Indian rupees as well as in Dollar terms.
After taking support at the 50% retracement level of Rs 12000 levels, it has started upmove and has broken it's trendline on upside.
I expect that a close above Rs 13075/- will be decisive and lead it further at least to it's previous high of 13500/- and then beyond it. (In $ terms, a close above 934 will be positive)
Happy trading
CA Rajiv D Khatlawala
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