Daily Wealth – 24-09-2012

Standard

VIEWERS CAN NOW READ MY COLUMNS ON VALUENOTES – a web portal where most of the brokers and research houses and experts post their work. Click on http://www.valuenotes.com/author-details.php?cid=OTE3

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

IVRCLINFRA achieved target of 47.

Short calls of PNB and BankofBaroda were non starter as stocks opened above stop loss level

Performance Update of 23-09-2012

Intraday Calls given through Twitter and Yahoo Messenger

Script Recommend

Ded Price

Stop

Loss

Target

1

Target

2

Exit

Call

Lot

Size

Open Gain/Profit

/Loss

IVRCL Infra 42 39.90 46.50 4000 20000
Total Gains 20000

Fresh Recommendations for 24-09-2012

Banking stocks have run up 20-30% in last 15 days. They look overbought seeking breather. I expect Banking stocks to give up some of the gains during consolidation in next few days.

If nifty corrects, Cement stocks( ACC, Ambuja) would correct more.

NIFTY

I had expected that Market should consolidate around these levels. But, at the same time had warned that I would be ready to add position if Nifty continues uptrend.

I have liquidated half of the long position yesterday. I would now remain sideways until Nifty consolidates.

USDINR

Rupee quickly came up after a day of downfall to 54.30. I will continue to hold short positions with closing basis stop loss of 54.

GOLD

I had said that unless Gold closes above 1771, Consolidation remains high probability. In fact, it tried and went up to 1788 but finally closed at 1772. I continue with my strategy, wherein I expect consolidation.

Gold has continued consolidation with healthy correction. Gold should find support around 31300.

I will add speculative short position to protect gains of long positions.

SILVER

In intraday movement, Silver went up to 35.18 but closed below recommended stop loss level of $34.70. I will add speculative short position to protect gains of long positions.

Unless closes above $34.70, a healthy consolidation remains high probability.

CRUDE

I will remain sideways. Will update as opportunity arises.

Note:

Please understand, Intraday movement of Indices and Stocks change frequently and with that technical updates, too. I will post intraday updates through Twitter(dhaval shah@tradingwealth) and Yahoo Messenger. Hence, willing traders and readers can send request to Yahoo ID- dcshah76 to add their Ids on Yahoo messenger or may follow me on twitter .

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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