IMPLEMENT "MARKET TIMING" THEORY
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Last day, we had mentioned that Gold would move up by about 1% and as a matter of fact Gold climbed up from 1076 to 1101 and closed at 1098.
In MCX, Gold bounced up from 24,451 to 24,715.
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If this morning’s lows aren’t breached for Gold and Silver, trend may bounce back resulting into a rise of about 1 %.
Gold touched 1105 and Silver touched 14.92. A trend reversal was seen from here.
From this point onward and till 3rd August (+/- 1 day), bullion shall continue to fall.
You are advised to stay away from bullion.
Long term bullishness shall start in bullion from 4th / 5th August 2015.
By then, market can experience correction.
You should hold GOLD & SILVER PUT OPTIONS till 3rd August 2015.
It is broad range day.
Strategy shall be : sell ‘bullion’ on rise.
- GOLD : 1085-1073
GLOBAL Stock INDICES
Global markets shall be uncertain for some time. Uncertainty shall continue for next week.
This fall may last till 4th August 2015. If recovery is observed, you can make short position at higher level.In coming days, a further decline of 5 to 6% could be observed.
If S&P500 re-tests 2110-2115, you can add short position / buy put options.
INDIAN Stock MARKET
Indian market shall be uncertain for the day.
- NIFTY FUT:8500-8650
- BANK NIFTY:19150-18800
BUY ON DIPS:
- ALSTOM INDIA S/L 810 TGT 835
- BHEL S/L 290 TGT 250 (POSITIONAL)
- OBC S/L 177 TGT 163
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