Commodity bets: Sell gold on rally, go short on silver
Rajini Panicker of MF Global Commodities India recommends to go short the May silver on MCX at levels of around Rs 56,850-56,950 per kilogram. "Place a stop for this trade around levels of Rs 57,200 per kilogram and look to target levels of Rs 56,200 per kilogram to about Rs 55,900 per kilogram," she says.
Priyank Upadhya suggests gold will be 'sell on rallies'. "Rs 27,900-27,950 per 10 grams range with a stop loss of about Rs 28,100 per 10 grams and targets of around Rs 27,650-27,600 per 10 grams," Upadhya elaborates.
N Prasad, CEO of Safetrade Advisors advises to sell crude oil MCX April contract from Rs 5440 per barrel with a stop loss of Rs 5465 per barrel for a target of Rs 5350 per barrel.
Kaushal Jaini, assistant vice president of Dani Commodities expects good bounce back in domestic prices of nickel. "One can go long in nickel above Rs 963-964 per kilogram levels for stop loss of Rs 945 and an upside target of Rs 975-980 per kilogram levels. Good bounce back we are expecting in domestic price of nickel," he adds.