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Showing posts from November, 2012

Gold Technical chart | 28-Nov-2012

Below is the snapshot and description on technical chart of Gold using Doda-Donchain, Ichimoku indicators.

The beginning of this week saw bullish trend in Gold, when it started trading above $1741. But just few hrs. back, it closed below $1741 and has now entered bearish phase. So, cut all your long positions in Gold. Buy it only when it closes above $1741.29.
Support levels: 1737.58 and 1728.36
Resistance :1741.29

Gold Technical Chart | 23-Nov-2012

Just now when I started writing this article, Gold gave a Buy signal. It's currently trading around $1731 after crossing the resistance of 1730.15. Just take long position here with the stop-loss of $1729.02. 

Do not miss any buy signal till Gold is trading above $1721.67 and ignore every short-selling signal.

 Here is the technical chart for your ref.

Gold Trading Strategy for 21-Nov-2012

Yesterday, Gold managed to cross its weekly pivot point of $1721.67 and we witnessed a good rally thereafter. However, it could not crossed its resistance of $1738. Currently, it is trading around $1724. 

Take your long position when it closes above $1728.85 with a stop-loss of $1721.67.
Target 1: $1738.60
Target 2: $1754.83

Gold Technical Chart | 05-Nov-2012

Gold is in downtrend from the last so many sessions. Currently, it is trading around $1678. For this weak, the buy signal will come only above $1693. Below it, do not miss any sell signal.
Support level: $1674.47

If it breaks $1674, we will see sharp correction.

Indian Rupee: Volatility ahead by Anindya Banerjee, Currency Analyst, Kotak Securities

The correlation of the Indian Rupee to the currencies of developing economies has always been extremely rocky and the start of this can be attributed to the era post the Prussian War or Circa 1870-71. Given the purchasing power disparity between economies trading in gold versus those trading in silver and the demonetization of silver as newer reserves were being discovered, the impact of such a huge rift was profound.
Post Independence, the economic crisis of 1966 and 1991 have attributed to the weakening of the rupee further in global markets. The trade deficits of 1950, resultant inflation and the stopping of foreign aid, the war of 1965 and drought devalued the rupee further. Subsequent liberalisation helped stem the flow till 1991, when India started facing its next wave of Balance of Payment Issues from 1985 – 1990. With imports restricted and high deficit, the rupee was devalued yet again especially by 1999.

Between 2000 – 2007, with high remittances, sustained foreign investment …