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.
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 16-10-2012
Calls given through Yahoo Messenger and Twitter
Jindal steel is stopped out but I will recommend to hold on it for one more day with stop loss of 409.50 on closing basis.
I will recommend to hold on SesaGoa for one more day with decreased stop loss of 168 on closing basis.
Fresh Recommendations for 17-10-2012
I will issue calls through Yahoo Messenger and twitter.
I added favourite stocks at 5640 as I expected yesterday. Nifty should not weaken much from here and since Nifty is in strong uptrend, we should witness upside very soon. I think, one can keep adding stocks with sound fundamentals with attractive valuation at this level.
Overall trend remains up until Nifty closes below 5620 level.
Fundamentally Sound and Technically positive stocks: Sintex, Crompton greaves, Educomp, Force Motors, NMDC, TCI ( Transport Corporation of India ), Tecpro systems. I will keep revisiting this list.
Rupee has been facing resistance around 53.15. I believe Rupee will give short spikes and/or may be closing above 53.50 to weed out weak holders of short positions before Rupee starts falling( appreciating ) again. Rupee will consolidate in the range of 52.50 to 53.50 for some days. I will initiate short positions above 53.50.
Gold is in consolidation retracing some of the fall. But, trend still remains down unless it closes above the range of $ 1759-1769. Possibility of further slippage still remains. It can test $ 1720 and may in extreme case $ 1660. Gold has opened gap down yesterday and hence downtrend should continue for some time after brief consolidation here.
Speculative short position is in handsome profit.
In Indian price, Gold found support around 30700 level as expected yesterday. In next two days, Gold can rise to 31000 – 31100 in Indian Re Price but trend still remains down.
Silver too remains in downtrend. 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.
Blog: dcshah76 to add their Ids on Yahoo messenger or may follow me on twitter .
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.