INVESTMENT SOLUTIONS

According to Bank of  America Analyst MacNeilCurry, gold prices would need to double in less than a year to show the kind of extreme momentum that would signal the end to the long-term cyclical uptrend. "Until we see price action take some kind of massive speculative blow-off, where prices effectively double in a year or less, I have to maintain a long-term bullish bias." The technical strategist added that gold's price could double in a shorter time frame, and that he was watching momentum most closely for indication of the kind of speculative fluctuations that would signal an end to the secular bull trend. "That says to me, we'll probably see a move in gold, before all is said and done, to between $3,000 to $5,000 (per ounce) and potentially $7,000 per ounce," he said. Using Elliott Wave counts on a logarithmic chart dating back to 1969, Curry's analysis points to a long-term target for gold at $6,081 per ounce. Gold has met an ini...

Although CLSA has cut its target for the Sensex to 19,000 from 20,000, it still maintains its "overweight" rating on the index. While the foreign brokerage firm has turned less bullish on the market due to adverse macro developments over the past few weeks, it still expects 10-12% market returns over the next one year, helped by valuations. Meanwhile, last month, Gold man had set a March 2013 target of 6,100 for the Nifty index. That means around 15% upside from the current levels. Goldman Sachs had upgraded Indian stocks to "marketweight" from "underweight". However, Sakthi Siva of Credit Suisse is neutral on India at this point in time. "We tend to favour markets that are in the cheapest four club. India actually joined the cheapest four club on January 3 and we upgraded India on the back of that call. But fortunately or unfortunately, India then put on about 25% in US dollar terms. So, as a valuation model it has since dropped out of the ch...