Gold wont break 1700 & Silver wont break 32.80

We do not expect Gold & Silver to fall below 1700 & 32.80 respectively.This was also mentioned in the weekly newsletter that was sent to our clients on Monday morning.

In next 2 days, we’ll see a good rise in bullion.

However, the first half of next week can be bit volatile and slightly bearish. But there’s nothing to worry about.

We are seeing a big upward move in Bullion from 5th December 2012’s evening.

This will continue till 13-14th December 2012.  In this time frame, Gold can cross 1,780 & Silver can cross 35.50-36.50.

We had also recommended to buy S&P 500 around 1,386-1,388. By 13th/14th December 2012, we’ll expect it to grow to cross 1,465.  And in this very time frame, we are positive about various global stock indices.

You can make long positions in IT related & banking/financial & pharmaceutical related  leading stocks in the US market.

Indian stock market is also in bullish trend with volatility till the said time frame.

In this time, Nifty can cross 5,850-6,000+. We see possibility of Nifty to cross 6,000.

Similarly, Bank Nifty can cross 12,000.

In the Indian stock market, you can make long position in Nifty, Bank Nifty, Maruti, TATA Steel, HDIL, Yes Bank, SBI, L&T, BHEL, GMR INFRA, DR. REDDY, KTK BANK, RAYMONDS, MCDOWELLS.

USD versus INR can go down to 53.90 in coming weeks.