Nifty above 5180 will fly others bear will rule
Yellow metal ruled the roast today closing record above $1,220 an ounce on the NYMEX. US Stocks traded flat despite of a global rout in equities. Euro uncertainity is propping up Gold to newer highs and we expect more and much more. We have a target of $2,000 in one year from now. Sounds over optimistic but it seems certain though.
RBI's move recently to purchase Gold was criticized by many but the country will be laughing to the bank in no time..
Concerns of Chinese tightening and Euro issues are still driving the markets crazy. British Hung parliament might even make UK debt situation even worse.
Equity market rally was lost in transit as global markets resumed the fall. We expect a mildly positive day today with Infrastructure Finance companies as well as fertilizer stocks are likely to do extremely well. Monsoon season is expected to be normal, much to the relief of the Fertilizer stocks which fo had a rough last year.
Markets are likely to be volatile...Speculators might be attempting to attract attention and dump stocks, One should be careful picking midcaps. Nifty 5200 appears tough nut to crack for the bulls