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Chat Transcript

22 Nov - 10:00 hrs

CP Krishnan | Whole Time Director, Geojt Comtrade

 

Get a technical check on commodities.

Chat Transcript

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guest: Hi Mr.Krishnan. what would be your forecast for gold & silver for next one month? is it good time to invest (time span for 6 months)?
CP Krishnan: Gold in overseas market is likely to be negative but is our domestic market prices may be traded inside 27500-31000 levels. Silver is also looks weak.
guest: According to you hoe Crude Oil will trade in today
CP Krishnan: Outlook of crude oil for the day is slightly positive. One can go for long positions with a strict stop loss below 5910 for a target of 6060/6085. Strong bullishness may be seen if prices close above 6120.
guest: Hi sir thank you for the technical report of Nickel and Crude oil.I have befitted from Then.Can I still hold Nickel short?
CP Krishnan: You can hold Nickel for short term target of 837 initially which if cleared would call for 815/796 levels. Trend reversal level is seen at 862. In crude oil you can book profits in short positions.
guest: What is you outlook on Silver?
CP Krishnan: Broad trend looks weak with a downside target of 43900/4200 but it has to stay below the strong resistance of 46750.
guest: What about gold?
CP Krishnan: On a short term perspective gold in domestic market possibly trade with positive sentiments but a volatile INR may influence prices in future.
guest: What is your view on Aluminum Future?
CP Krishnan: As long as prices stay below 113 expect further downside towards a target of 108 initially followed by 105 later.
guest: Hello sir what is the view of copper for stort term as well as long term till the expiry of curent lot
CP Krishnan: On a medium term perspective, Copper is expected to trade in a rage of 410-460 levels. In November contract, the ideal buying levels are 436-430 regions with a strict SL below 424. Upside target is 452/456.
CP Krishnan: In Gold, prevailing fundamentals are not in favour to touch Rs 35000 per ten gram but if INR weakened further chances are there.
guest: Sir do you think gold can touch Rs 35000/10 gm by Dec 31.
CP Krishnan: In Gold, prevailing fundamentals are not in favour to touch Rs 35000 per ten gram in Indian market but if INR weakened further chances are there.
guest: Sir, what about cardamom futuer?
CP Krishnan: Cardamom prices are likely to trade in a range of 770-720 regions with mild negative bias. Strong buying may be seen once prices closed above 775 with stiff volume.
guest: im new to commodities trading ? what is the most important fundamental rule to follow in trading and how to prevent the loss ?
CP Krishnan: While investing in commodities futures, an investor primarily considers the margin requirements, liquidity of contracts and availability of market information. In case of a beginner in commodity market, he/she should be self prepared with adequate knowledge about the commodity. Always take your own decisions but seeking expert advice would help you to enhance profits or reduce risks. Knowledge about the market regulators and various market participants would be an added advantage. Always ensure strict SL for all positions.
guest: How do you see sugar in context to recent price war?
CP Krishnan: Prevailing selling pressure in sugar is likely to extend further if it breaks below the immediate and relatively strong support of 2800.
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