Chat Transcript

30 Apr - 12:00 hrs

NS Ramaswamy | Head Commodities, Ventura Securities

The hottest commodities to bet on

Chat Transcript

debashis1975: What is your intraday, shortterm and positional view on Crude May contract ?

NS Ramaswamy: Crude mcx may could see intraday levels of 5150 with a stoploss of 5010.....one could remain long. On a positional note expect 5240 levels or around 97.60$

NS Ramaswamy: Crude on a positional note supports are seen at 4920 or 92$

guest: what about natural gas

NS Ramaswamy: The WEAK pricing period has ended and is in full throttle for a BIG BULL RUN

debashis1975: What is your short term view on Gold M June contract ?

NS Ramaswamy: A 2 day action in the prices are awaited. Mostly volatile. FED meeting on wednesday and Thursday could trigger the price movement. However kindly track gold in dollar terms if it breaks 1462 as a closing, we could see levels of 1457 and 1426. If not the upside is poised to test 1485 and beyond that to psychological levels of 1500. Rupee terms 26600 looks as an immediate bottom. Upside is capped at 27600.

guest: i have sell natural gas at 234 what i do plz advice me the support level

NS Ramaswamy: Strictly take a stoploss of 246.....we could at best see some down movement to 228 as an opportunity for you to book profits. Counter is a BULLISH one. Preferably take up LONG positions.

debashis1975: In Agri sector, what is your view on Mentha Oil May Contract : Short term and Positional ? What is your general outlook on Menthaoil ?

NS Ramaswamy: Supply is on the higher side. Counter is WEAK and takes a support at 940 ; Pharma companies also not keenly on any buying spree ; A maximum upside or resistance could be at 980 levels. Would recommend selling Mentha Oil MAY at present levels of 960

kishen90: where do we see sugar prices ahead in coming 1year with govt. removing subsidies on sugar and moderate rainfall being expected this year?

NS Ramaswamy: Today its in a range bound market. Supply is on the higher side and no demand picking up. Its just a recovery from the lows. Govt news is already discounted in the market/prices. Retail offtake not taking place. NCDEX May could see levels of 2880 - 2895 if on the short side place it with a stoploss of 2960 ;

NS Ramaswamy: Going on a 1 year view it should moderate at levels of 2700 - 2750.....now that we also talk of inflationary controls going forward.

debashis1975: Regarding COPPER, if forthcoming China data on 1st-3rd May disappoints, may be strong steps from Chinese Govt & China Bank will be taken to boost growth : do you expect turn-around for copper for higher levels on these basis and what should be short-term and positionaltrading strategy for copper June ?

NS Ramaswamy: Base Metal COPPER - Years of deficit is turned out to be on a Surplus note. Prices have actually recovered from the 1.5 year lows. It was dangerously approaching the $6800 mark per tonne in LME and $2.8 mark per pound in COMEX which incidentally are the cost of production levels. HENCE, i would see COPPER to have bottomed out at MCX levels of 358 - 365.....on a positional note take that as a stoploss and remain LONG......expect Chinese turn around news and we could see in short term 410 - 415 and positionally it should see levels of 440 - 450.

newtest: which commodities look good to buy or sell

NS Ramaswamy: Bullish Commodities - Natural Gas & Nickel. Moderate upside - Copper, Zinc & Crude. Weaker side - Aluminium & Lead. Volatile counters - Gold and Silver (BIAS UPSIDE - REMAIN LONG).

madankumarnayak: what to do in silver

NS Ramaswamy: So far as it doesnt breach $23.80 comex or Rs.43700 continue to remain LONG. Fresh long positions could be intiated. CARE - Wed/Thu FED Meeting - could be volatile. Immediate stoploss could be 44300 and go long for expectations of 45800 and 46500.

NS Ramaswamy: THANK YOU

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