nifty

nifty is in a frustrating zone. the base formation phase has started and i feel we have almost seen the lows.this ideally will mean that low of 5200 may just be touched /brushed marginally but not broken convincingly.the odds currently are against such happening also.

the other aspect is : is it a good time to buy? for traders : scalping moves will be there, but since market is in early consolidation phase, it will be ambiguous and uncertain in direction, which is not good for positional trading. so swing and be merry!

investors have no choice but to buy these dips. however there may not be much gain, if any till the end of this year. so the time period as an investor has to be go beyond couple of years to reap the gains. the patient will be rewarded.

the best gains come from investments made in periods of uncertainty.

the precious and the black

oil is down 10% (oops). it has reversed from the top zone of its target like it was expected to do .it is not a mere co incidence that almost all the analysts were calling for 200 usd oil just like they were calling for 50usd oil when it was in 70 usd.i think most of them, if not all, are paid to be wrong1

gold has also reversed from the top of its range target. noteworthy is silver which has lost just the way it had gained.

ideally silver should go into a long consolidation phase before any worthwhile bull be seen in it.

in any case i will review the charts and post accordingly.

the precious and the black

oil is down 10% (oops). it has reversed from the top zone of its target like it was expected to do .it is not a mere co incidence that almost all the analysts were calling for 200 usd oil just like they were calling for 50usd oil when it was in 70 usd.i think most of them, if not all, are paid to be wrong1

gold has also reversed from the top of its range target. noteworthy is silver which has lost just the way it had gained.

ideally silver should go into a long consolidation phase before any worthwhile bull be seen in it.

in any case i will review the charts and post accordingly.

gold

gold : at 1537!

few stocks

few stocks on nse i like are for short moves:

apollo tyres: small move to 80

sbi: move to 3100-3200

coal india : move to 400

petronet: move to 145+

besides these: jindal steel, hind zinc, hcl tech, titan look okay.

keeping an eye on RIL, it s under an unnatural consolidation phase and will lead the next phase up of the indian markets (without any doubt).

whenever ( thats the important question actually) it comes out of this 'consolidation', it will atleast be 2000+

gold

gold hits 1500 usd!

some more upside left atleast.min tgt remains 1540 usd

markets

-oil has hit 110 usd ! so it has been absolutely on track.

- gold is at 1465$ and seems on way for the before mentioned tgt of 1540usd mentioned some time back.i feel its going to give a berserk move very soon

- spx is almost at top of its range.

- indian markets have also started their period of base formation and almost the low is in.

the low was in actually the market had a turnover of over 3.0 lac crore.

however a larger consolidation phase is continuing and will continue to frustrate.