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Chat Transcript
30 Apr - 11:00 hrs
Aurobinda Prasad | Research Head- Commodities & Currency, Karvy Stock Broking
The hottest commodities to bet on
Chat Transcript
| Aurobinda Prasad: Good Morning India |
| guest: sir, shall i buy lead mini may contract? |
| Aurobinda Prasad: Good Morning India |
| Aurobinda Prasad: Hi, We are seeing entire base metals to remain weak in the near term therefore, not suggesting to buy as of now... however, we should also see 107 as a strong support for lead.. |
| guest: what shall do to copper june contract |
| Aurobinda Prasad: Regarding June copper, we are expecting it to retest 394/395 and thereafter a good sell so the call would be to sell at 395/398 targeting 380/370 stop loss above 410 |
| guest: gold trend |
| Aurobinda Prasad: Hi, the gold trend is still bearish but now we are seeing it as a strong recovery phase. However, unless, 27700 is not broken we shall not turn bullish on gold. The possible range is 26200-27500 |
| guest: Outlook for rupee for next 6 months>? |
| Aurobinda Prasad: Hi, its a bit tedious question to answer about rupee. We are seeing it trading almost flat in this year so far. However, as the year proceeds we could see it appreciating as the indian GDP should probbaly hold on near 5%. Likewise, the rupee should trade in the range of 52-56.50 |
| guest: good morning i have zinc may at 103 what is ur suggestion |
| Aurobinda Prasad: hello, Zinc is now trading at Rs. 102.50 and if that is an intrday call then i would recommend keeping stop loss below 101.75 and hold the positions for a target of 104.0/104.50 |
| guest: gold trend in coming future |
| Aurobinda Prasad: Hi, the gold trend is still bearish but now we are seeing it as a strong recovery phase. However, unless, 27700 is not broken we shall not turn bullish on gold. The possible range is 26200-27500 |
| guest: Sir should one short Gold now? and if yes what would be positional stop loss and target for this trade. |
| Aurobinda Prasad: For a positional trade one should place stop loss above 27700 for short positions... |
| t4terror: I have to position apr copper bought @ 391 and may crude sold @ 4980.plz suggest. |
| Aurobinda Prasad: Hi, copper is expiring today and we are not expecting to go to 391 so suggesting you to exit right now.. however, also not suggesting to roll over now as the june that is trading at 390 is likley to go to 395/394. so averaging or fresh selling can be done at 395 levels. Regarding crude oil it could be a probelm as it is expected to hit 5160. possibly another averaging can be done at 5160/70 for may future, |
| guest: Can one short the GBPINR pair and short USDINR ? Do you find a rational trade there in next few months?With the expectation that GBP falls vs USD |
| Aurobinda Prasad: Hi, its a good question but we are not hoping it to come down rather it can hit $1.5600+ so it would be ideal to buy GBP/INR too... regarding USD/INR we suggest selling at 54.7/54.80 TP 53 SL above 56.30 |
| usha66: Lower Target for Silver? |
| Aurobinda Prasad: Regarding Silver we could see it coming back down to the recently made low of Rs. 41000....However, on the higher side the resistance can be seen at 46300. Unless, 46300 is hold we suggest to remain on sell side... |
| guest: today gold trend |
| Aurobinda Prasad: Today`s gold trend- I am not willing to answer, but it can move in the range of Rs. 26940-27100. |
| guest: Sir, is it right time to sell INR against USD for target 53 in May contract ? |
| Aurobinda Prasad: Hi, I am not expecting the target to come in May but we could start selling around 54.50/54.60. One/two roll over should be able to reach to your target of 53... |
| Aurobinda Prasad: Thank you.. |
| moderator: This chat has now ended. Thank you Mr Aurobinda Prasad for sharing your views, and thank you viewers for your participation. |
