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Equity Buy/Sell (Technical View)
Ø Commodities :
Ø Silver : It may be recalled that on 09/12 when silver was trading around 43800, we had mentioned that if it reacted by 1000-1500 points, it would present an opportunity to buy. It reacted to 42600 and is presently trading around 45000. It has the potential to touch even 46000 and beyond. At this juncture, we would advise investors to have trailing stops – initially around say 43500 (or 42500 for risk takers) and to move the stops near 45000 when it trades comfortably near 45500-46000 levels. We expect a steep correction ( of the magnitude of 6-10%) after the current rally before resumption of another upmove and hence trailing stops for long positions is an absolute must.
Ø Copper : We have been recommending copper from 179 levels ( pls. refer 24/03/09 reco) and recently on 18/10 and 09/12. This also is near achieving its target of around 425-430. Investors are once again advised to have trailing stops at around 409 and increase it to 419 once it crosses 425. At the cost of repetition, we would like to recall some of our calls :
Ø Our views on 11/11/10 : Quote : Silver and gold have reacted well. Silver is down 5% (downward freeze) as we write this. This will be an opportunity for investors to buy. We would advise investors to buy one-third portion around current levels ( silver 40095 and gold 20105) and buy one third at every 1500 points correction (for silver). For long term and medium term investors, there is a good potential on the upside Unquote
Ø Silver touched 38338 before regaining and making an all time high of 45735. Those who had bought between 40095 and 38500 would have gained 8-10% in a month's time. Similarly, gold touched 19800 before getting back to 20924.
Have strict stop loss
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