Nifty continued its 'boring' movements but there were good moves in specific stocks, including some whih were analysed recently on my blog.. (Hey I am sure after INOX, you have traced R Com)
For a long time I have not 'touched' upon Gold... Well one reason could be the similarly 'boring' movement in GOLD. And Yes the price charts are 'potentially dangerous' ! I am not scaring you, but prices are suggesting it.
The current move in Gold seems to be creating a potential H&S but right now too early to confirm. I would sell if it breaks below Rs 16500/-.. And I would sigh a relief if it regains Rs 17300/-...
So you gold traders out there .. get ready to trade the break out ...
Ready ... Steady ... (wait)!
Once the break out occurs, we will define targets .. Till then - its a wait game ....
Happy watching!
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
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