Kunal Shah of Nirmal Bang Commodities feels that inspite of yesterday’s correction, there is lot of opportunity and one should go long in silver. So, he recommends going long on silver at Rs 53,500 per kilogram with a stop loss placed below Rs 53,250 per kilogram and he expects prices to move up and test levels of Rs 54,150 per kilogram.
Dipen Shah of Stayvan.com sees crude oil holding on to its support level of USD 86 per barrel. He also reckons that MCX crude is now trading above Rs 4,800 per barrel area which is a bullish zone for crude. He further says, “Any dip in crude prices around Rs 4,800 per barrel should be used for buying purposes with a strict stop loss of Rs 4,770 per barrel for a target of Rs 4,850-4,880 per barrel. This should be taken as strictly intraday trade.”
NS Ramaswamy of Ventura Securities recommends selling natural gas MCX July contract with an expectation of a gap up opening. He advocates taking advantage of the higher opening and selling in the range of Rs 166-167 per MMBTU with a stop loss of Rs 169 for intraday targets of Rs 161 per MMBTU and Rs 159 per MMBTU.
Sumeet Bagadia of Destimoney Commodities believes that copper is good to buy at around Rs 428 per kilogram levels with a stop loss to be placed at Rs 424 per kilogram levels for the upside target of Rs 432 per kilogram. “If prices are able to break and give close above that then a further rise can be seen in commodity till Rs 437 per kilogram levels in next couple of days.” he adds.