It was a quiet week and many commodities saw consolidations happening. The chart of the week goes to Wheat.

Click on image to view larger image in new window.

BASIC users

MCX

1. Buy copper 300 tgt 310,320 sl 290 - target achieved.

PRO users

MCX

1. buy crude oil 3600 sl 3500 tgt 3750,3900 - exit crude long 3600. no loss no gain.

NCDEX

1. buy copper 305 tgt 320,330 sl 297  - first target achieved.
2. buy guar gum 4900 sl 4836 tgt 5050,5100,5200 - all targets achieved.

Results of trading calls given on 04/05/2010

1. buy NCDEX barley above 1077 sl 1014 tgt 1144,1250
2. buy NCDEX  wheat 1124 sl 1050 tgt 1225, 1250,1300 - first target achieved.

Results of trading calls given on 09/05/2010

1. Buy NCDEX  Chana 2100 sl 2050 tgt 2170,2250,2350 - target achieved made high of 2203.
2. buy NCDEX  cocudakl 980 sl 952 tgt 1000,1025 - first target achieved.
3. Sell NCDEX  Pepper 16500 sl 16680 tgt 15500,15000  - stop hit

The chart of the week for 16th May 2010 and for second week in a row is Gold. The precious metal breached its earlier high to make a high of 18500. The price cooled off a bit only to get hot again.

Click on image to view larger image in new window.

Results of trading calls given on 09/05/2010

MCX

1. Buy cardamom april 1325 tgt 1400,1430 sl 1275 - made high of 1450
2. Sell crude oil 3900 sl 3964 tgt 3750,3600 - made low of 3735
3. Sell Gold 18295 sl 18315 tgt 18000, 17800 - stop hit
4. Buy RefSoyOil 454 sl 430 tgt 460,470  - stop hit

NCDEX

1. Buy gur 950 sl 938 tgt 975,1000 -  first target achieved
2. Buy Guar Gum 5200 sl 5150 tgt 5350,5400 - made high of 5345