Daily Wealth – 10-10-2012

Standard

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

Buy Educomp at market price with stop loss of 171 for price target of 180 & 195

Performance Update of 09-10-2012

Script Recommend

Ded Price

Stop

Loss

Target

1

Target

2

Exit

Call

Lot

Size

Open Gain/Profit

/Loss

HindOilExplo 120.4 114 135 Open 1000 -6000
Jindal Steel 416 414.60 436 Open 500 4150
Educomp 173.6 171 180 195 Open 500 -600
Total Gains -2450

Fresh Recommendations for 10-10-2012

I will issue calls through Yahoo Messenger and twitter.

NIFTY

Nifty was broadly in consolidation yesterday. Nifty could not sustain at high point of the day and could not stick to bottom of the day. I will stay away from participating even tomorrow, if Nifty continues to play in a range.

On upside, unless Nifty trades firmly above 5750, I will avoid to build long positions. On downside, there is still a possibility to test support range of 5620-5640.

USDINR

Rupee has continued to weaken, as expected . I will maintain yesterday’s view on Rupee

“ After long streak of appreciation, it cooled off a bit. Rupee closed at 52.40. There are 2 possibilities here. Rupee can test the bottom again before further consolidation OR it can continue to retrace the fall. On upside, 53.50 should offer good amount of resistance. Rupee can hit 53.95 under extreme circumstances. But, we should not forget that Rupee is gaining strength hence only short positions should be participated. “

GOLD

Gold had recovered completely yesterday. But, today as I am writing Gold is trading below yesterday’s low. As I expected, Gold will test the support range of $1759 to $1772. But, if Gold trades firmly below the range and closes below the range, I think shorting opportunity would arise.

But, in Indian price as I expected due to rupee’s slide, we have price cushion. Gold in rupee is not falling in line with international price. I think, Gold is leading to significant turnaround. I will watch it very closely and will update as it decides the direction.

As I wrote on 4th Oct, I have created long position in Gold with stop loss of 30735. Gold may revisit the level of 30735 in next few days. In dollar terms, Gold’s Daily and Weekly patterns are still in favour of uptrend.

SILVER

As said sometimes that Silver is higher beta version of Gold. i.e. Silver exhibits higher volatility than Gold both the sides. Silver has breached some important supports in international market. Silver is trading below important support of $34.70 at $33.95. If range of $33.20 to $33.50 fails to offer support to Silver, it will fall drastically. It seems, Silver should find support in the said range.

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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