Gold Is not A Hedge against Inflation But a Hedge against the Dollar!

After the Fed's Speech The US Dollar went plummeting, Following a crash in the Bonds and T-notes crashing to new lows. An Increase in the Price of Oil and Major currencies against the Dollar will have an impact with the Asian stock market.
Look for our next targets towards 5400 on the Nifty by the End of March 2012.

Stock Specific : Gold took a U-Turn once again from its lows after Ben Bernanke's dovish speech currently trading at 1720 while I am writing this. Our next trades on the National Stock exchange will be to purchase Gold Stocks! and Gold mining Stocks!

Recommendation : Purchase Gitanjali at Current market price or the opening price on Friday once markets open.
Technical: the eight day money flow index has crossed its lows with FII funds flowing into Gold stocks In India.
RSI has strengthened crossing above RSI 36.50.

Recommendation :- Purchase Deccan Gold

Nifty January 2012

The fourteen day period (Relative strength Index) RSI on the Nifty has risen above 50+ Levels towards 59.27 which Indicates a breakout on the Nifty above 4932 which acts as Pivot level for the month of January 2012.

Fibonacci retracement levels on the Nifty if broken above 4932 can lead towards 5024 and 5127. Recommendation : Stay long on the Nifty once 4930 level is Broken with targets of 5127 and 5400 till the end of March '12.