On the other exchanges, it seems that Gold ( and Silver) have come out of their long slumber ... Or so the charts say..
Expect a rapid upmove in Gold in the coming days . A close above $936 should be positive for a move towards the previous peak of $1034. ( On Indian charts corresponding figure should be near to Rs 14700/-) ...
And if gold is rising , Stock market must take a breather! .. All financial markets rarely move together in the same direction....
Happy trading !
CA Rajiv D Khatlawala
Head of Research & Training
JHAVERI Securities Ltd.
4 comments:
dear rajeev
i went short in nifty at 4190...and immediately had a doubt seeing the strength of the bounce....(i was also trying to mak a very very short term play by shorting mercator lines at 53 and got stuck)....
could u help me on this? should i hold mercator and nifty short for at least a week or should i book my losses?
please accept my apologies for inconvenience caused.
regards
manoj
Rajeev,
do you mean to say 15700? currently gold is trading around 14700 :)
Thanks,
Rishi
Dear MASH,
I am sure you will appreciate that I do not comment / advice on individual positions ...The purpose of the blog is to share knowledge/ideas / information... Lets keep it that way... Thanks !
Have a great day!
Rishi ... i indicated that I expect gold to retest the earlier high which was $1034...
(It is not Rs 1000/-)
Regds,
Rajeev,
What I meant was that in your write up you had suggested that Gold would target $1034 now and the corresponding value in Indian markets would be Rs. 14700....but since Gold in Indian markets is already trading at 14700 right now, shouldn;t the corresponding value of Gold in Indian market be considerably higher when Gold internationally touches $1034??
Thanks and sorry for the confusion.
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