Whats gonna happen with the BANDH…..

Actually nothing going to happen with the Bandh declared by the BJP and the Shivsena people. According to me its just another way to harass common people. Private vehicles remained offair while the govt agencies remained opened. The bandh was declared to protest against the rising inflation. But did the party people think about the common people who live on daily wages. Did those people have been compensated for the same. There are many other things to be protested for….. Think….

I just remembered the article which I had written in the month of March 10. Viewers can view the same on the below mentioned site address. Topic is GOLD, Sugar & IIP,

http://technicalsvishaldangaich.blogspot.com/2010_03_01_archive.html

In that I had mentioned that personally I like Silver far better than Gold. As this metal is also on the verge of extinct. Production has drastically fallen down. But still the prices have been constant. Use of this precious metal is much more than the Gold. Its been used in almost in everything from cell phones to Ipod to solar panels telescopes, mirrors, batteries, and even in purification of water. It has a very good anti bacterial qualities. So the product which is used in almost everything and the production has fallen and the inventories have fallen down from 10bn ounces in1940 to 1bn ounce, will surely see a wild movement in the near future. Prices of Silver have not surged as the way the Gold prices have shoot up. Buy Silver is the only mantra now…..

As mentioned in my earlier article also that the Indian markets are looking good to me. Technically in this week the Nifty chart pattern showed some correction below the trendline and the same was seen in the last week. But as mentioned If Nifty breaks below its 20DMA might trigger selling pressure, but the same could not happen as Nifty took good support at its 20DMA and bounced back sharply.

Markets were very volatile this week. Global markets have been supportive this week. Indian markets gained almost 2%. Nifty which closed at 5237 in the last week closed higher at 5353 for the first time since April 2010.

In the Daily chart of Nifty we can clearly see that the pattern which is marked in the rectangle box No1. shows that the Nifty faced resistance at 5350-5385 levels, and currently the Nifty is trading in the same band. In the month of April Nifty made a high of 5399 and had fallen down to 4786 levels. Since then the Nifty have made the bottom and have surged. Rectangle box No.2 shows that the Nifty has made a low of 5225 levels i.e at its 20DMA and rallied from there. This time the Nifty will surely break the 5400 level mark. Market people are waiting for the correction to happen, but according to me the correction will not happen and the markets will continue to rally. MACD is also showing positive trend. Nifty had taken good support at the trendline 2.

In the weekly chart also Nifty is showing good positive signal. The chart is marked with the broad trendline which indicates that the its trading in the broad range. Breakout above the same will take the pattern to the new levels. Trendline 2. in the weekly chart shows that the Nifty faces stiff resistance at the same and had corrected after approaching the same. But this time I personally feel that the Nifty will surely break above the same move forward. Close above the same will take the Nifty to 5428-5477-5549 levels.

Hold on to your long position and wait for the breakout.

Last weeks call.

Few weeks before I have given call on RNRL to buy for the risky traders.

Sell Infosys below 2718. Did not trigger the price low was 2720.

Buy Boc India cmp 291. Long term, hold on.

This weeks call.

BUY Axis bank above 1280 SL. 1262.

BUY Maruti above 1431.