Daily Wealth – 27-08-2012

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ALSO FIND INTRADAY UPDATES ON TWITTER. DHAVAL SHAH@TRADINGWEALTH ON TWITTER.

Dear Investor

You are receiving Free Daily Update service called Daily Wealth. It will include technical updates on SPOT NIFTY, Stocks from NIFTY 50, USD/INR, GOLD, SILVER and CRUDE.

Calls given to Subscribers would not be part of this service.

Open Calls Given Previous Day or Before

Buy BHEL with stop loss of 228.70 on closing basis for target price of 236-243. BHEL has potential to rally beyond target price given here. CMP: 231.85

Buy Coal India with stop loss of 349 on closing basis for target price of 361. CMP: 352.45

Maruti is in consolidation, can give upside breakout. Stop loss should be placed at 1171. CMP: 1188

I continue to hold Siemens with stop loss of 655.

Performance Update of 24-08-2012

BHEL closed marginally down. But, Call remains open.

Coal India hit the target of 361. In fact, Coal India showed remarkable strength and closed 2.21% up. Those, holding position can continue to hold with enhanced stop loss of 362. If, Coal India trades more than half an hour below 362 intraday, Investor should exit.

Maruti went down in intraday movement, but quickly came up to close at 1192. Investor should continue to hold it, with closing basis stop loss of 1171.

Siemens is up Rs. 10 since call given. I continue to hold it with enhanced stop loss( on closing basis) of 663.

I had given 2 intraday calls on twitter.. PNB was closed out at the same price, it was issued and M&M earned Rs. 6 in intraday.

Fresh Recommendations for 27-08-2012

I am not giving any calls for tomorrow. Traders can continue to hold position as recommended above. Do follow me on twitter, as I would flash calls as and when pattern emerges.

NIFTY

Nifty remained down through the day. But as said before, Down move was calculated to ensure that It does not break up trend. I would choose to continue with my long position with closing basis stop loss of 5360.

USDINR

I had short position but Stop loss was hit on 14th . But, I continue to expect further appreciation of rupee in short term.

GOLD

I wrote on 16th …

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.

Update

As expected, Gold has continued to scale up. I continue to hold on long position with enhanced stop loss of 30600 on closing basis.

SILVER

I wrote on 16th

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.

Update

Silver accelerated upside further with 1% gain. I am long on Silver with buying price of 54400. I will continue to hold with stop loss of 56400 on closing basis. Silver is known for wild movements on both the sides. Trade cautiously.

CRUDE

Crude is around $ 97 now. I had added Crude position around $ 93. I raise the stop loss from 92.7 to 94.6.

Note:

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 .

Regards

Dhaval Shah

Blog: https://investmentacademy.wordpress.com/

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.

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