GEPL Capital's Anilsingh Thakur on Bloomberg UTV show Minting Money

Watch GEPL Capital's Anilsingh Thakur discuss the economic scenario and commodities on Bloomberg UTV date 21st July 2011:

Euro Bailout:
We expect the Greece to bail out successfully but a partial default cannot be ruled out which shall push the euro towards the 1.40 mark.

The markets are reacting majorly to the macro economic factor and under reacting to their micro factors. The factors such as Euro and US Debt related concerns have been weighing but the one which shall drive the markets is QE.

We might see some corrections coming in base metals but the overall case is bullish.
Gold: We continue to be bullish on gold and expect it to test around 23200 levels and a correction can be used as a buying opportunity with a stop loss below 22800 levels.

Silver:
Silver is the one base metal which is expected to out perform in terms of rise and a steep correction like yesterday can be used as a buying opportunity with a stop below 57000 target 61000 levels.

Copper:
From a 2 -- 3 months perspective copper can be bought in dips to 420 levels with a stop loss below 395 targeting 460 levels. With the slowdown in global manufacturing sector last week it has seen US and today we had the Chinese PMI below 50 which is a sign of contraction in economy and is a precarious situation and also the Euro zone numbers were weak. Hence we might see some corrections coming for a day or two.

Natural Gas:
The cleanest fuel no doubt has attracted the demand from Japan after the nuclear disaster. The commodity shall also have demand coming from the winter season ahead. We remain bullish in natural gas and from a 2 -- 3 months perspective can be bought at dip towards 190 with a stop loss below 170 targeting 230 -- 240 levels for which some far month contracts can be used.

Guar Seed:
Guar seed is as rain fed commodity and this year the rainfall in North West of India has been lower by 9% hence pulling the prices higher. The prices in its current move can test 4450 -- 4500 levels where one can sell with a stop loss above 4600 targeting 4000 levels.

Crude Palm Oil:
The crude palm oil (CPO) futures has been witnessing a spill over demand from the edible oil sector which has also seen sharp gains and is expected to move up. From a 15 days perspective we look to buy CPO with a stop loss below 470 targeting 510 levels.

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