Market updates for 05/12/2012

 

Rel Infra

 

 

Yesterday we have initiated long in Rel Infra at Rs.491. Today it has closed at Rs.501 and so we are in a profit of Rs.10 per share.

 

Rel Infra has multiple supports at Rs.452 and confirmation of uptrend was indicated at Rs.485 (spot) we are expecting further upside in this stock.

 

GOLD

 

We have initiated short in Gold Mini at Rs. 32010 before few days and cmp is Rs.31263. In the above chart you can see that gold has made double top formation. It it is in sharp down trend. It is likely to test the ascending trend line which is our target.

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	5899
Reversal if closes below	5575

 

 

Thought for the day

 

Our scientific power has outrun our spiritual power . We have guided missiles but misguided men. - Martin LutherKing Jr.