They say Gold is the safest heaven for any investment. Which is all the more true when all other investments are falling apart. If we recollect, the story of 2008 market fall, Goldbees stayed in a range (1120 - 1320) bound market. That means, it we can get the lower-bound of this range, we can hold Gold as long as the market corrects.
Let's see how the Goldbees (Gold ETF traded in NSE market) chart looks in daily & weekly window.
Daily Chart:
Weekly Chart:
Summary:
Both the charts indicate a correction to Gold market happening. Correction should halt at 1850 level. If it breaks past this 1680 could be the level to buy and hold. A nice strategy could be to buy Gold at this point as SIP (Systematic Investment Plan) - i.e. buy at current price (1920) level (because in daily chart it has a support) here, then again at 1850 level, and may be in truck load if achieves1680 level.
Let's see how the Goldbees (Gold ETF traded in NSE market) chart looks in daily & weekly window.
Daily Chart:
Weekly Chart:
Summary:
Both the charts indicate a correction to Gold market happening. Correction should halt at 1850 level. If it breaks past this 1680 could be the level to buy and hold. A nice strategy could be to buy Gold at this point as SIP (Systematic Investment Plan) - i.e. buy at current price (1920) level (because in daily chart it has a support) here, then again at 1850 level, and may be in truck load if achieves1680 level.
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