Daily Wealth – 12-10-2012

Standard

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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.

Performance Update of 11-10-2012

Calls given through Yahoo Messenger and Twitter

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 1200
SesaGoa 172.60 170 180 190 Open 1000 1400
IndiaInfo 66.50 64.50 71 75 Open 4000 18000
Total Gains 13600

Fresh Recommendations for 12-10-2012

I will issue calls through Yahoo Messenger and twitter.

NIFTY

Underlying strength of Nifty was once again visible today. Many stocks –Midcap & small cap – were quick to catch up once Nifty turned positive. As said earlier, till election gets over in US, markets across the world will remain afloat as US treasury and FED will ensure that they keep up pumping liquidity and maintain positive sentiment in US. If centre is in good health, periphery, too, will be in good shape(if at home they are maintaining pro growth policies). US is centre of liquidity and rest of the world periphery.

As said yesterday, Nifty was near support zone and found the support. But, sustaining above 5700 is important otherwise it can test the support range of 5620-5640 once again. If Nifty sustains above 5700, 5866 can be achieved. As said, I have created long position in Nifty with closing basis stop loss of 5670.

USDINR

Rupee has strengthened after 4 days weakness. I expect Rupee to weaken further. Rupee can go down to 53.40 to 53.90. Yes, sentiment is positive and Rupee can continue to gain strength. But, I would prefer to wait for tomorrow to see Rupee’s movement to infer any decision.

GOLD

As expected, Dollar weakened and extended support to Gold. Gold is up today. But, any meaningful upside will be seen only after Gold closes above $ 1792.

Yesterday’s Update:

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

Silver is following gold. If Dollar index continues to correct, Silver will gain strength.

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.

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