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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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Performance Update of 15-10-2012
Calls given through Yahoo Messenger and Twitter
Fresh Recommendations for 16-10-2012
I will issue calls through Yahoo Messenger and twitter.
Nifty has remained sideways. Unless Nifty trades firmly above 5730, possibility of slipping to support range 5640-5620 still remains. With today’s pattern development, Investors should buy their favourite stocks around 5640 level. But, overall trend remains up until Nifty closes below 5620 level.
Rupee will consolidate in the range of 52.50 to 53.50 for some days. I will initiate short positions above 53.50.
As expected, Gold slipped very rapidly below $ 1740. What is worrying is Gold opened gap down today and trading down since then. That leads me to lower the support range to $1625 to $ 1660. Hence, if Gold does not find support at $ 1720, will slip to $ 1660.
Speculative short position is in handsome profit.
In Indian price, Gold can test 30700.
Silver is trading below $ 33. Support lies at $ 32.15 and further can find support in the range of $ 31.15 – $ 31.45..
I will remain sideways. Will update as opportunity arises.
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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.