But in rupee terms, we are still below the all time high of Rs 16000/-. The simple reason is the crash of the USD INR.
It is currently stuck in the range of 15500 and 16000 and a break out is imminent. I expect the USDINR to now become stable (even RBI is worried about the last 3 days volatility) . Given the expected stability of the currency, I expect a break out of Rs 16000 more likely.
Traders may buy on break out with a stoploss near Rs 15500 for a minimum move of Rs 1000 - Rs 1200 in days to come...
This should become more likely especially if the world markets start correcting.
Happy GOLD trading this Diwali...
CA Rajiv D Khatlawala
3 comments:
Dear Mr. Rajiv,
Congratulations for setting up your own Academy and thus fulfilling your dream.
I have suggestions for you on the business model of your Academy.
1. Try to build a relationship with investor education departments of BSE & NSE. You know, both these exchanges conduct lots of certification programmes. If you could be a part of these programmes, it will assure a steady revenue and satisfaction of training market participants.
2. Exchanges have come out with new products like interest rate futures, currency futures - regarding which the investing community has a very little knowledge. Try to contact investor's assosciations in different cities and you can find out if any classes can be conducted for their memebers on these new concepts.
My two cents for your new venture :)
Wishing you again all the very best.
With Regards,
Dear Praveen,
I thank you for giving me additional inputs... It is the support of well wishers like you which re-iterates my enthusiasm for the venture.
Thanks once again
CA Rajiv D Khatlawala
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