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Open Calls Given Previous Day or Before
I continue to hold Rpower with stop loss of 91.60 and Siemens with stop loss of 655.
Buy Jindal Steel with closing basis stop loss of 407 for price target of 415-426. Current Price: 407.60
Performance Update of 16-08-2012
Sesa Goa stopped out, Rpower closed at the same level, Siemens is still open
Jindal steel closed marginally up, I continue to hold with enhanced stop loss of 411 from 407.
Hindalco stopped out.
Fresh Recommendations for 17-08-2012
Buy Tata Steel with closing basis stop loss of 395 for price target of 408-414. Current Price: 398.25
NIFTY was in narrow range, which does not change outlook. Hence, I will continue to recommend to hold Nifty long position of the buying price of 5145 with closing basis stop loss of 5331. Immediate target remains 5466 and possibility of 5600 increases.
I had short position but Stop loss was hit on 14th . But, I continue to expect further appreciation of rupee in short term.
Gold continues to trade in narrow range showing indecisiveness. Range continues to be 1585-1630. Closing above 1630 should confirm upside breakout. I will stay away till Gold breaks out either side.
As on every dip, Gold is coming up with higher lows, probability of upside breakout increases. I may add small position.
In international market, GOLD is moving in a range of 1630-1570. Gold has been consolidating in this range since May, 2012. To me, it seems that Gold has formed base here and Gold can head for a new rally. But, Dollar index has remain firmed since last few months and may go up further in coming days. Under that scenario, Gold may prefer to remain in this range for longer period or may decline, too. Hence, I would wait for Gold to give me signal before I initiate trade.
Silver is trading at upper resistance of 28.25.I have long position with closing basis stop loss of 27.65. I recommend all investors to add position in silver with mentioned stop loss for price target of 28.80 and 29.50.
In international market, SILVER has remain in very broad range of $35-27 since September, 2011. It looks SILVER can initiate uptrend. But, I would wait for couple of days closings before I initiate trade. Those, having deep pockets and want to buy SILVER, should initiate trade with stop loss of $26.85 on closing basis. I would initiate long trade in SILVERM of September contract, once it trades firmly above 53400 with stop loss of 53220.
As expected, Crude is trading firmly above $93 and my open position in profit. I continue to hold it with stop loss of 92.70.
Please understand, Intraday movement of Indices and Stocks change frequently and with that technical updates, too. I will post intraday updates through Yahoo Messenger. Hence, willing traders and readers can send request to Yahoo ID- dcshah76 to add their IDs .
Disclaimer: Daily Wealth is a free daily investment newsletter published by Investment Academy. This publication does not provide individual, customized investment or trading advice. All information is based upon data whose accuracy is deemed reliable, but not guaranteed. Performance returns cited are derived from our best estimates, but hypothetical as we do not track actual prices of customer purchases and sales. Author might have open positions in the stocks and Indices recommended above.