Review: Intra day Prediction for commodities,Gold, Silver oil prediction for aug 31,2009

Charts for today for each of the commodities is posted. In view of the fact that oil,gold and silver etc are traded longer on MCX/NCDEX( we consider only 10am -5pm limit) prediction method will need to be changed forthese commodities.

 

Regarding updates pls note that

 

1. Profit on gold was Rs approx 2500-3000 per lot at 5 pm( rs 5k limit not reached)

2. Profit on silver was Rs 2400 on one lot and no loss on other.

3. pepper shot up Rs 300 after buy call but price limit not met.

4. Profit on currency derivative was rs 150 per lot( Rs appreciated after our shortingcall in afternoon)

 

summary: approx 7/10 call ( rise and fall count as two)  followed the trend. crude oil however did not rise as predicted

 

Prediction as posted today (see updates also)
 

 

all predictions are for futures traded on NCDEX  or MCX. Spot prices  when quoted in $( such as gold,silver,oil) may have different variability.For some of these specific buy or sell calls may be given during the day.

 

Gold: Futures likely to gain after initial correction and may move up in late afternoon. Buy futures on any correction in morning.gold futures can be shorted in morning.

 

silver: short silver futures in morning if it opens with gain. Buy futures in evening-late afternoon.

 

Turmeric: Short turmeric futures on any initial gain. Buy futures after first is profitable by afternoon

 

 

Pepper: volatile trade. If pepper opens with correction, buy future. it can be shorted in afternoon

 

 

 

Crudeoil: Buy oil futures if opens with correction. Oil can be shorted in morning if flat or positive.

 

$ vs Re: dollar futures may gain after initial correction.buy futures in morning after any rupee depreciation

 

disclaimer: usual risk disclaimers apply