Daily Wealth – 08-10-2012

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VIEWERS CAN NOW READ MY COLUMNS ON VALUENOTES – a web portal where most of the brokers, 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

Calls given through Yahoo Messenger and Twitter

add IVRCLINFRA at current level, fundamentally and technically at good level

dcshah76: Due to technical problems, Nifty was down more than 3% and because of that stocks too were down. HindOilExp had also gone down below stop loss level but I recommend to hold on it

dcshah76: Buy Jindal Steel at market price with closing basis stop loss of 414.6 for target price of 436

Performance Update of 05-10-2012

Script Recommend

Ded Price

Stop

Loss

Target

1

Target

2

Exit

Call

Lot

Size

Open Gain/Profit

/Loss

GAIL 383 382.30 387 390 393 1000 10000
OptoCircuit 128.4 127.8 133 139 139 1000 10600
HindOilExplo 120.4 118 135 Open 1000 -1200
Jindal Steel 416 414.60 436 Open 500 200
Total Gains 20200

Fresh Recommendations for 08-10-2012

I will issue calls through Yahoo Messenger and twitter.

NIFTY

Nifty’s down and up swings of 5th Oct, was very large. Largely, it should be omitted from the calculation. But, there are cases wherein we have seen that Index does visit the levels reached on such days. Like, we observed flash crash in US on 6th May, 2010, when Dow dropped more than 1000 points in 5 minutes. Later it covered 600 points but the important thing is — in next 3 days Dow covered entire fall, even went above the level of 6th May but again started falling and in next 2 weeks gave up entire gains and closed below the low point of flash crash day.

Yes, In our case, Nifty has covered almost entirely and was just -0.7% down. But, let us see how this week shapes up. What is to be seen is, was the fall intended by some players? or was that real mistake made by Dealer?

Nifty has closed above 5730 level hence I will continue with long positions built in Index and Stocks. If Nifty violently breaks 5730 few times in intraday then I will stand ready to close on the long positions.

If Nifty closes below 5730, I will close out all long positions and remain sideways.

USDINR

Rupee is searching stability now. Rupee did go down to the new low level of 51.37 but closed at 51.85. As said earlier, if Rupee continues falling, it should find support around 50.90-51 levels. It looks like Rupee will deep to this low levels before stabilising.

Since, Rupee has fallen off a cliff and has reached into oversold zone, it can bounce back any time. Rupee can bounce back to the level of 53.

GOLD

Gold gave up the gains of 4th Oct on 5th Oct and closed at $1780. Though , it is still in uptrend with this close in Daily and Weekly pattern. I will be cautious. If Gold closes below $1768, I believe, long positions should be thought out again.

SILVER

Silver , too, closed below the level of $35 and also below $34.70 at $34.40. Silver, too, is in uptrend in Daily and Weekly patterns. But, I will turn cautious now.

CRUDE

I will remain sideways. Will update as opportunity arises.

Note:

Blog: 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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