Jul 04, 2011, 12.21 PM | Source: CNBC-TV18
Commodities have been the flavour of the season. But how will they perform going ahead? Experts tell you.
T Gnanasekar of Commodity Trendz Research & Fund Management has a ‘buy’ view on crude. He suggests investors to buy on dips to 4,200 per barrel on crude July MCX for a target of 4,350 or 4,365 a barrel. "Market might be inclined to test the resolve of IEA again," he reasons.
‘Sell’ the yellow metal at every rise, says Kishore Narne of Anand Rathi Commodities. "One can look at selling gold on the Indian market around Rs 21,800-21,850 per 10 grams levels with a stop loss of Rs 22,200 per 10 grams levels. One can look for targets of around Rs 21,000 every 10 grams for a very short term," he said.
Rajini Panicker of MF Global Commodities India recommends investors to 'sell' September MCX silver at around Rs 52,200-52,550 per kg levels. "We are looking for a target of Rs 50,000 per kg levels and the stop for this trade should ideally be placed around Rs 53,350-53,370 a kg levels. We are expecting weakness in September silver to continue."
Buy on dips to about Rs 104-104.50 per kg, Ashish Shah of Sushil Global Commodities advises. "One should have a stoploss below Rs 102.50 per kg for a targeted range of about Rs 107.50-108 a kg," he suggests.