Rajini Panicker of MF Global Commodities India recommends going short on the MCX February contract for copper at Rs 425-427 per kg. With a stop loss of Rs 430, Panicker expects the industrial metal to fall to Rs 414-419 per kg.
With silver finding difficulty in sustaining above the Rs 57,000 mark, As long as silver is trading below Rs 57,200 per kg, Ashish Shah of Sushil Global Commodities suggests going short with a target of Rs 56,350-56,000 on the lower side. He says that it will be difficult for the precious metal to sustain above Rs 57,000 per kg.
Destimoney Commodities maintains their bullish view on gold for the next few days. Sumeet Bagadia tells CNBC-TV18 that gold is good buy at Rs 27,900-28,000 per 10 gm with a stop loss below Rs 27,800. His target is Rs 28,300 and Rs 28,500 in next couple of days.
Kaushal Jaini, assistant vice president at Dani Commodities has a buy call on crude at Rs 4,980 with stop loss of Rs 4,920 per barrel. He says that a close above Rs 5060-5100 indicates the possibility of a bounceback after which we can see a bottom formation in crude where we can see a good upside from here.
