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Chat Transcript
24 Apr 2012 - 18:00hrs hrs
Gnanasekar T |
Which commodities should you buy or sell on Akshaya Tritiya? Find Out
Chat Transcript
| abhipunjabi: hi good evening. Just for trading purpose i have shorted gold mini june futures @ 28900 levels. Is this a good trade to make money for today or for the week????? |
| Gnanasekar T: I personally feel, gold is not to be shorted right now. As it is more a Rupee play and domestic chart also indicates strength in the near-term. |
| sachingurav: Sir, can I make a fresh entry in Gold at current level? |
| Gnanasekar T: Entry is not a problem. You can make at any level, but your target and stop loss has to be clear before you enter. Short-term chances exist for a push higher towards 29,250-300 levels. |
| sachingurav: Will Gold double my money by next Akshaya Tritiya? |
| Gnanasekar T: Very unlikely that it can double. My personal feeling is that gold could be higher going forward but with a limited upside. |
| sachingurav: What is the short term target in gold mini? |
| Gnanasekar T: 29,300-45.Within a month mostly. |
| shafathahmed: How do you advise me on investing in gold |
| Gnanasekar T: It depends on what your horizon is? If you are long-term investor, better to buy on a SIP basis in thr National Spot Exchnage. If you have some risk and can afford to sit through the ups and downs with some calculated risk futures can also be tried. |
| sharadmeshram: can I take long position in Crude oil for short term |
| Gnanasekar T: In the short-term for a target of 5600 once can take a long position but keep a strict stop of 5400. The FOMC statements in the coming days is very vital for crudeoil price moves. |
| rajeshty1234: I HAVE SHORT POSITION AT 422 IN COPPER WHAT SHOULD I DO |
| Gnanasekar T: Trend is still bearish for copper. But with FOMC around the corner, it is better to keep a stoploss at 430. Maybe look to sell again after the FOMC drama gets over. |
| mayur.thacker: how much return can i expect out of Gold in 1 year if buy now? |
| Gnanasekar T: Difficult to say by the end of 1 year. But within the year think 15-20 % looks likely. |
| guest: Can we expect correction in gold price till next Diwali? |
| Gnanasekar T: It depends on various global economic factors. But, with most economies ( developed and developing) cutting rates to prop up growth, good chances that we can see an inflation bubble and gold will benefit as a inflationary hedge. |
| shafathahmed: Do you recommend Gold ETF ? |
| Gnanasekar T: For someone who is actively using the stock markets, ETF is a nice option. The disadvantage of an ETF is that beyond the stipulated stock market time 9am -3.30 pm, one cannot do anything in gold ( Buy or Sell). Whereas, spot exchnages like National Spot Exchnage works exactly like a ETF and trades from 10 am to 11pm in the night. |
| abhipunjabi: please could you also advise a trade in nickel? |
| Gnanasekar T: The base metal complex and specifically Nickel looks weak in the near-term. One can sell current levels with a stop loss at 935 and tgt 895 |
| guest: Is gold prefered over silver? |
| Gnanasekar T: It is the other way. Whenever gold becomes expensive, silver becomes a good alternative. So, at current levels though Silver is down and weak, it can bounce back more sharply and quickly. |
| mumbai.com: Why people prefer Gold on Akshaya Tritiya? |
| Gnanasekar T: Good question!!! Like how people prefer to celebrate occasions with sweet people prefer to buy gold. Sentiment here is that if you buy gold on this day, then you will be prosperous going forward. There are some who buy homes on this day and various other things. |
| mumbai.com: Sir pls suggest 2 commodities for short term investment.. |
| Gnanasekar T: Buy mcx gold in the short-term and sell base metals. |
| dsawant: Sir do you think Gold will cros 29500 mark by this Diwali? |
| Gnanasekar T: With the way Rupee is behaving and international prices remaining in a tight range and inflationary fears could potentially drive prices higher above 29,500 even before Diwali. |
| annettea: I am buying 1grm coin every month what should I do? Is this the good investment idea? |
| Gnanasekar T: It is absolutely perfect!! Please continue buying. |
| indianstock: Is physical Gold a good option than Gold ETF? |
| Gnanasekar T: For someone who is actively using the stock markets, ETF is a nice option. The disadvantage of an ETF is that beyond the stipulated stock market time 9am -3.30 pm, one cannot do anything in gold ( Buy or Sell). Whereas, spot exchnages like National Spot Exchnage which delivers gold in dmat form, works exactly like a ETF and trades from 10 am to 11pm in the night. |
| indianstock: Can NRI invest in national spot exchange? |
| Gnanasekar T: Yes, but, if one`s earning is in Rupees and subject to Indian tax laws, then it is not a problem, and all KYC norms are adhered to. |
