Daily Wealth – 11-10-2012

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

Performance Update of 10-10-2012

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 -7000
Jindal Steel 416 414.60 436 Open 500 50
SesaGoa 172.60 170 180 190 Open 1000 -2000
Total Gains -8950

HindOilExplo has closed Re. 1 below stop loss of 114. But, I still recommend to hold.

Educomp stopped out.

Fresh Recommendations for 11-10-2012

I will issue calls through Yahoo Messenger and twitter.

NIFTY

Nifty is very near to support zone. Nifty may find support in the range of 5620-5640, if slips further. Many stocks are near to support levels and become buy. I recommended few of them today. SesaGoa is at monthly support level and very safe to buy as stop loss is near at 168 on closing basis.

On upside, unless Nifty trades firmly above 5700, I will avoid to build long positions.

USDINR

Rupee is weakening as expected. Rupee hit the high of 53.27 today. Those having long positions, should look to book profit above 53.50. I expect Rupee to respect resistance zone 53.50-53.95. I will add short positions once Rupee trades above 53.50.

GOLD

Gold has support around $1759 level. Today, Gold has weakened further. But, as after 15-17 days rise, US Dollar Index is getting ready to fall again, Gold should find support near current levels. Risk: If US Dollar Index trades above 80.25 then Gold will slip below support levels.

In Indian price, Gold has been rising in spite of fall in international price because of Rupee weakening. But, Rupee is reaching to resistance zone and in 2-3 days will reverse the course.

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

SILVER

As said for Gold, if Dollar index corrects, Silver too will rise.

I had said yesterday:

“ 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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s