Tarang Bhanushali of IIFL expects gold price to decline. "Rise in dollar would lead to a selling pressure in most of the commodities and precious metals would be impacted the most," he said in an interview to CNBC-TV18.
He advocates selling MCX gold April contract at Rs 29,530 per 10gm with a stop loss at Rs 29,650 and a target of Rs 29,380 per 10gm.
Bhanushali also recommends selling MCX crude around Rs 5,050 per barrel keeping a target of Rs 5,000 per barrel and a stop loss of Rs 5,080 per barrel.
Watch video for his bets