SENSEX NIFTY
May 02, 2012, 09.39 AM IST | Source: CNBC-TV18

Experts say buy crude and copper, sell silver and gold

Ram Pitre of ITI feels that the oil market has found equilibrium right now trading in the range between USD 100.68-105.45 per barrel in international market. He thinks that either side break will give a clear trend.

Ram Pitre of ITI feels that the oil market has found equilibrium right now trading in the range between USD 100.68-105.45 per barrel in international market. He thinks that either side break will give a clear trend. In domestic market he suggests buying crude between Rs 5460 per barrel and Rs 5450 per barrel with a stop loss of Rs 5430 per barrel for a target price of Rs 5530 and 5565 per barrel.

Priyank Upadhya of SSJ Finance and Securities advises selling MCX silver July contract around Rs 58,200 per kilogram with a stop loss above Rs 58,800 per kilogram and for targets of around Rs 57,000 per kilogram.

Dipen Shah of stayvan.com feels that since the PMI numbers from the US were strong, there could be some bout of profit booking in gold prices. Hence with an intraday view, he suggests shorting MCX gold around Rs 29,170 per 10 grams with a stop loss of Rs 29.270 per 10 grams for a target of Rs 29,000 per 10 grams.

N Prasad of Safetrade Advisors recommends buying MCX copper around Rs 446 per kilogram with a stop loss of Rs 443 per kilogram for target of Rs 452 per kilogram.

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