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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.
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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
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.
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.
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.
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.
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.
I will remain sideways. Will update as opportunity arises.
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 .
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.