Daily Wealth – 29-08-2012

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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

No Open calls now.

Performance Update of 27-08-2012

As no calls were issued yesterday, Performance update remains blank…

Fresh Recommendations for 27-08-2012

Buy Coal India at market price(359.50) with stop loss of 358 for target price of 364-366. Exit only if Coal India trades below stop loss for more than half an hour.

ICICI Bank is in twilight zone, if trades firmly above 925.5, can extend up to 938 and if trades below 919, can fall down to 907.

Tata motors may show intraday strength

NIFTY

Nifty remained down. Nifty will remain broadly between 5300 & 5350 and may test 5270, if foreign market disappoints. Closing above 5310 will indicate strength.

USDINR

It is trading in small range of 55-56. Wait , till is decides to swing either side.

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

After good run up, Gold is consolidating. Gold will remain sideways with downward bias. I will purchase GoldM Oct contract around 30750, if Gold takes support there. I will update as I add position.

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 rose 10% in 7-8 days. It needs breather. Silver should find support most likely between 56000-57000. If slips and comes near 55250, I will add up.

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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