Nifty on way to 6100-6200, Rupee to fall to 48

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Dear Investor

Since, I was busy with other activities of the business, I could not update for last few days.

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.

VIEWERS CAN 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

NIFTY

I published an article on 31st Oct, 2012, wherein I categorically said that Nifty will hit upper channel. That is 6100. Link: http://www.valuenotes.com/Market-Outlook/Nifty-Has-two-options-6100-or-5100/179174/3/T

Nifty is in channel as shown in news letter published on 31st Oct, since Dec, 2011 and has been following it very accurately.

I am very confident that Nifty should reach close to 6200. Will it make new high? That depends on Nifty’s strength around 6100 and again around 6200.

Those who have been following my letters know that I continued to reiterate time and again that downside is just to weed out weak investors, rest assured Trend is up.

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.

Sesa Goa shows very good pattern. Buy Sesa Goa at current level for target price of 182-190.

USDINR

Rupee is oscillating on both the sides of X-axis of chart. But, as I had continued to say, Rupee is all ready to fall down( to appreciate). Rupee may spend some time here around 55 and may even touch 56 once, but

Rupee will fall a cliff to 48-49 level in next few weeks and months.

GOLD

Gold’s move of last 2 weeks is very surprising !! Dollar has been falling and Gold, too, is falling !!

The difference is Dollar is in structural downtrend and Gold is in structural uptrend. Hence, the temporary fall of Gold in tandem with Dollar may be to weed out weak holders or Gold may be sensing the fiscal cliff resolution not in place and that may trigger automatic tax hikes and spending cuts in US.

But, as most agree that US will find some kind of solution of fiscal cliff and will be able to successfully kick the can down the road. But, I believe stakes are very high and fiscal cliff outcome should not be taken lightly. I will update on fiscal cliff very shortly as it has potential to reverse whatever I said above if resolution not found by 31st Dec, 2012.

SILVER

Silver will continue to follow Gold.

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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