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Sep 20, 2012, 01.40 PM IST
Dipen Shah, Business Head of Stayvan.com thinks that after a long time, crude has given a range breakdown and unfortunately the breakdown has come towards the lower side of the channel.
Kunal Shah, Head of Research - Commodities of Nirmal Bang Commodities believes that with Chinese slowdown intensifying, non ferrous complex is likely to loose its sheen. One can go short in MCX Copper at Rs 457 per kilogram with a stop loss placed above Rs 461 per kilogram for expect prices of Rs 448 per kilogram.
NS Ramaswamy of Ventura Securities feels that domestic price level of nickel seems to get a great support at close to Rs 950 per kilogram levels. He recommends buying nickel September contract on MCX above Rs 960 per kilogram, looking out for a target of Rs 975 per kilogram and beyond that to Rs 986 with a stop loss of Rs 950.
Sumeet Bagadia of Destimoney Commodities expects zinc prices to move down and touch levels of around Rs 107 per kilogram in next three-four days. He advocates using rise in prices till Rs 111 per kilogram in MCX as selling opportunity with a stop loss of Rs 113 per kilogram on higher side for downside target of Rs 109 per kilogram and below that Rs 107 per kilogram.
May 22 2013, 13:11
- in MARKET OUTLOOK
May 22 2013, 10:44
- in Economy