RE: MCX Calls for 31 July

As forecasted in my previous post:

1.> Silver (Expiry - 5 Dec) contract has hit a low of 17809 (today) which is near recommended target level of 17800.

2.> Crude Oil is steadily climbing from the low of Rs 3065 (on the day of recommendation) to 3125 currently. Hold positions. I re-emphasize our target of near 3200 levels.

3.> As for exporters/ importers, as recommended USD/INR is trading at 40.53 currently in line with our expectation of climbing higher.

Happy Trading!!

hi
is there any chance of silver closing/trading above 18000/- in Sept 2007 contract.?

thanks in advance for your inputs

Dear Atul,

Today Silver - Sep expiry contract is trading near 17600 levels on MCX.

Market is in doldrums these days, Sensex/ Dow Jones movements, Currency trend reversals daily (Yen, Euro & INR), Crude Oil falling from record highs to new lows, Copper sinking to 5-week low in 5 days etc. Based on all this, we are presented with contradicting views for market trends daily.

So, as of today (strictly today), I see good hope for Gold-Silver rising. Based on past 100 years US history, Gold-Silver should fall. Although, past is not a sure indication of future.

I suggest if you have a buy order in your portfolio for above 18000, which is not yet sold at a stop loss already; then you might as well make a stop loss now. Now that the risk is already taken, I suggest a stop loss at 17383.

In future, please try to use stop losses for profitable trading!

Standard recommendation is to use a 1:4 stop loss ratio. For example, if one buys silver at 20,000 for a target price of 21,000. So, stop loss = 1/4 (21000-20000)= 1/4 * 1000 = 250.

Happy Trading!

Dear Sir,

Thanks a lot for your analysis and guidance.

And of course, the silver had gone up on yesterday as you have correctly analysed.

thanks and regards.

Adultvish