Moneycontrol

Chat Transcript

  • Gnanasekar T

    Feb,21,2013, 12:00 hrs

    Which commodities look good to buy or sell

    Gnanasekar T , Comtrades

  • vinod_kumar9: Sir, gm. How do you see yesterdays Fed announcement on bonds to impact gold and silver.

  • Gnanasekar T:

    Hi, The announcement yesterday was nothing new. The prev FOMC minutes has also indicated the same. However, this time gold bulls are nervous due to big funds trimming their positions.

  • mumbai.com: hello sir, how r u? do yoy think gold will reach 25000 in near term? can one accumulate gold at this level?

  • Gnanasekar T:

    Veru well, thnaks! There are some key levels to watch. Initially 29,000 is expected to hold for a retracement. Subsequently it has chances to decline to 28,500 levels. Beyond that I am sceptical at this point though I might not rule out 25,000 also.

  • rnp_111: where do you see support for silver? Thanks

  • Gnanasekar T:

    $26.50 in intl mkts and 51,-500 in domestic mkts.

  • vishaljain002: Sir, whats your view on silver at Ts 53000/-. Previously it made a low of Rs 48000/- before climbing to Rs 64000/- levels from where it has fallen. Where do you finda bounce back in silver? Also, please advice regarding the target and timeframe. Thanks.

  • Gnanasekar T:

    $25-26 in intl mkts and close to 50,000.

  • mahavir_1008: hello sir, at what levels can one buy gold or silver

  • Gnanasekar T:

    think 28,700-29,000 in short-term should be good support. But not necessary that it might hold there. Can go doen. For investment purpose one should be prepared to buy on dips.

  • vishaljain002: Please advice regarding the investment levels for gold along with the target and timeframe. Thanks.

  • Gnanasekar T:

    Intl mkts $1525-30 is a good support close to 28,800-28,900 in domestic mkts looks a good support.

  • vishaljain002: Can silver ever cross the Rs 70000/- mark which it hit a few years back?

  • Gnanasekar T:

    Nothing is impossible!!

  • pfaisalkhan: which is the best agri commodity to invest in for the next six months

  • Gnanasekar T:

    Agri commodities are subject to weather and demand/supply situation and one cant take a call in advance. But one can look at cotton on the long side and edible oil on the short side.

  • sammin22: can one short gold @ 1767 for a tgt of 1735-26? and silver @ cmp for a tgtr of 27.5? and crude for a tgt og 90$

  • Gnanasekar T:

    you mean $1567 for a tgt of $1536, Yes can with a stop at $1610. Silver too with a stop at $29.20.

  • symantec: How does gold look to you? Shall one consider investing into Gold ETFs at current level?

  • Gnanasekar T:

    Gold`s weakness could continue but it is nearing crucial supports. So, for investment purpose one can consider buying near those supports. 28,500 levels.

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