See crude at $52/bbl once it crosses $48/bbl: Ventura Sec

NS Ramaswamy of Ventura Securities said that above USD 45 per barrel levels could take crude to around USD 46.5 per barrel to USD 48 per barrel levels. Once it crosses USD 48 per barrel, we could see certain levels like USD 52 per barrel, he said.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney
moneycontrol.com

Home » News » Commodities

Dec 11, 2008, 07.35 PM | Source: CNBC-TV18

See crude at $52/bbl once it crosses $48/bbl: Ventura Sec

NS Ramaswamy of Ventura Securities said that above USD 45 per barrel levels could take crude to around USD 46.5 per barrel to USD 48 per barrel levels. "Once it crosses USD 48 per barrel, we could see certain levels like USD 52 per barrel," he said.

Like this story, share it with millions of investors on M3

See crude at $52/bbl once it crosses $48/bbl: Ventura Sec

NS Ramaswamy of Ventura Securities said that above USD 45 per barrel levels could take crude to around USD 46.5 per barrel to USD 48 per barrel levels. "Once it crosses USD 48 per barrel, we could see certain levels like USD 52 per barrel," he said.

Post Your Comments

Share Cancel

NS Ramaswamy, Ventura Securities

NS Ramaswamy of Ventura Securities said, "Crude has seen bullishness in the short-term period. Above USD 45 per barrel levels, what we are testing now, could be taking it to around USD 46.5 per barrel to USD 48 per barrel levels." He feels that a proper jump or a real rally and bullishness in crude could be established only beyond USD 48 per barrel. "Once it crosses USD 48 per barrel, we could see certain levels like USD 52 per barrel," he said.

 

Here is a verbatim transcript of the exclusive interview with NS Ramaswamy on CNBC-TV18. Also watch the accompanying video.

 

Q: USD 45 per barrel is now done on crude. What kind of gains are you expecting in it from hereon?

 

A: Crude has seen bullishness in the short-term period. Above USD 45 per barrel levels, what we are testing now, could be taking it to around USD 46.5 per barrel to USD 48 per barrel levels. A proper jump or a real rally and bullishness in crude could be established only beyond USD 48 per barrel. Once it crosses USD 48 per barrel, we could see certain levels like USD 52 per barrel.

 

However, we cannot rule out this possibility of the slowdown in the economies, which could continue to give bearishness to it, which could again further get established only if it breaks down below USD 42 per barrel. Until then, it could be in a range of maybe between USD 42–45 per barrel.

 

Q: On what note do you expect crude prices to end the current year with?

 

A: The current year is likely to be sideways to bearishness. We don’t see something great happening because there were two occasions when the OPEC had given an announcement for the reduction in supply. But they really did not do it. We are now expecting them to do so on December 17.

 

In Algeria, they are talking of a further cut in output of maybe around 1.5–2 million barrels a day. That is going to be a very huge figure. But if that really does happen by December 17, then we are probably going to see crude prices jumping up. But till such time, we see sideways to bearishness continuing.

 

Q: Gold also has seen good gains. Do you think the rally could sustain, and what are the levels you are watching there?

 

A: The rally could sustain. There is very little left in the range of gold. Gold is seen to be hovering in the USD 770–833 per ounce band. Since it has seen a very psychological mark breaking just two days back, USD 800 per ounce, it is purely based on equity markets improving and probably Washington coming out with some aid to the automakers. So, these actually supported gold temporarily.

 

If gold were to see a level beyond USD 823 per ounce, my perception is that beyond USD 833 per ounce it should see a big rally. It needs to close beyond USD 833 per ounce to see a level of USD 850 per ounce and USD 880 per ounce.

Buy, Hold, Sell ? Hear it first on M3
See crude at $52/bbl once it crosses $48/bbl: Ventura Sec

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login