Jun 12, 2012, 11.01 AM IST

Buy gold, book profits in crude: Experts

Ashish Shah, Sushil Global Commodities expects copper to trade in the range of Rs 408 to Rs 408.50 on the lower side to about 415-419 on the higher side for the week. "We believe Rs 408 should now be a strong support for atleast a day or two," he said.

Bazaar at 08:00 am

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Shreekant Jha, MD, PJ Commodity Ventures

Naveen Mathur of Angel Broking recommends buying nickel at Rs 930-935 with a stop loss at Rs 917. "We are expecting targets in the range of Rs 952-955 for the day," he said.

Ashish Shah, Sushil Global Commodities expects copper to trade in the range of Rs 408 to Rs 408.50 on the lower side to about Rs 415-419 on the higher side for the week. "We believe Rs 408 should now be a strong support for atleast a day or two," he said.

He suggest traders to go long on this commodity with stop loss below Rs 405 for a target price of Rs 415 to Rs 419 on intraday as well as slightly positional basis.

Meanwhile, Shreekant Jha, managing director, PJ Commodity Ventures said, "Yesterday crude prices saw a correction to the upside as anticipated and it came close to the 4,800 level that we were thinnking of shorting it at and it gave an opportunity for entry at that point. Having shorted it at Rs 4800, we now at Rs 4500 or thereabouts. It was last trading at around Rs 4650 or so and it is already halfway there, so 4,500 or 4,550 are the levels at which you can actually book your profits."

N Prasad, chief exceutive officer, Safetrade Advisors recommends buying present MCX gold contract at around Rs 29,650 with a stop loss of Rs 29,500 for a target of Rs 29,850 to Rs 29,900.

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