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Aug 14, 2012, 02.33 PM IST | Source: CNBC-TV18

Commodity Bets: Expert tips to trade gold, crude & copper

Priyank Upadhyay of SSJ Finance & Securities reckons that gold prices are forming above Rs 30,000 per 10 grams and are headed higher towards the Rs 30,300-30,500 per 10 grams in medium term.

Priyank Upadhyay of SSJ Finance & Securities reckons that gold prices are forming above Rs 30,000 per 10 grams and are headed higher towards the Rs 30,300-30,500 per 10 grams in medium term. He suggests buying gold on dips around Rs 30,000-30,050 per 10 grams ranges with a stop loss below Rs 29,800 per 10 grams for targets of around Rs 30,300 per 10 grams followed by Rs 30,400 per 10 grams.

Ashish Shah of Sushil Global Commodities feels that MCX crude oil prices will remain slightly positive on every dip. He feels that till crude is trading above Rs 5,135-5,150 per barrel, it looks good. He advocates going long on this commodity at current levels and dips to Rs 5,160 per barrel with a stop loss below Rs 5,145 per barrel for target price of Rs 5,220-5,250 per barrel on the higher side.

Kunal Shah of Nirmal Bang Commodities believes that oil prices are unlikely to hold on to these levels. He recommends going short in crude oil at Rs 5,150 per barrel with a stop loss placed above Rs 5,185 per barrel and expects prices to move around and test levels of Rs 5,060 per barrel.

N Prasad of Safetrade Advisors advises selling MCX copper contract around Rs 412 per kilogram with a stop loss of Rs 416 per kilogram for a target of Rs 409 per kilogram.

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