Happy Dhanteras–Time to Add Some Gold to your Asset Allocation. Stock Charts – TCS , Coal India, Bajaj Finance, Abfrl, bharat forge , bhel and Sun tv

Happy Dhanteras and Wish you a Happy Diwali and a Healthy and Prosperous New Year.

 

After a really long time Gold has become and interesting asset to look into since 2011 when Gold topped in dollar terms in 2021 

Although Gold may not be comparable to Equity or Index Returns but deserves some allocation or an asset allocation.

Also last year has been a good one. No harm in buying some physical gold for consumption !

Gold Technical View

  • The only commodity which has really not done well over the last year seems to be Gold.
  • The range seems to be contradicting and can eventually breakout.
  • As a trade would keep a stoploss at 1700. If it breaks out could go into all time highs.
  • As an asset allocation it seems a good time to get some Gold in the asset allocation plan.

 

Gold Comex

 

Gold INR – Range Bound. Can breakout eventually.

 

Gold INR

 

Even Silver could be interesting.

 

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Stock Charts

 

Looking at a few of them which are near breakout , topping out and retest.

 

TCS – Retest and Bounce

 

TCS

 

Coal India – Retest and Bounce.

 

Coal India

 

Bajaj Finance – A double top and Fall or sideways.

 

Bajaj Finance

 

ABFRL – Setting up for a breakout into pre covid highs.

 

ABFRL

 

Bharat Forge – Watch for a break above 820

 

Bharat Forge

 

BHEL – Cup and Handle. Big resistance at 80

 

BHEL cnh

 

Sun Tv – After 2-3 false breakouts can it finally breakout.

 

Sun tv

 

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