UPDATE

UPDATE ON 29 SEPTEMBER

SHORT TERM TREND : BULLISH

LONG TERM TREND : BULLISH

S1 RS 13110 , S2 RS 13035R1 RS 13245 , R2 RS 13310

STAY LONG.

While negative sentiments pressured metal marketlower ,

gold proved to be an exception with largesafe haven buying

that bolstered prices.In the London Metal Exchange the yellow

metalclimbed 1.5 % to $ 902 an ounce as investorssough a safe

haven amidst uncertainities.Clearly the gold market is sure to

tango with the movement of the green back via - a - vis the

Euro.The question is whether the $ 700 billion bail out package

would widen the fiscal deficit therby enervate the dollaror whether

it would assure long term US financialstability which will prove

positive for the currency.Investor intrest is the key given that

there is little change in the underlying demand - supply fundamentals.