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Nov 15, 2011, 12.08 PM IST
Over the past many days the market has been trying to cope up with acute volatility and the trend is likely to continue. On the back of this volatility, experts advice commodity bets that can help you secure gains.
Gold With uncertainty over European economic conditions continuing, Reena Walia, senior research analyst - international commodities at Angel Broking feels that this should be a very supportive factor for gold prices in near term. "We expect gold in the Indian market to test levels above Rs 29,000 per 10 grams today. One can buy gold MCX December at Rs 28,680-28,640 per 10 grams with a stoploss of Rs 28,460 per 10 grams. Keep a target of Rs 29,140 per 10 grams for the day," she said. Silver Silver futures are also likely to advance following record yellow metal. Silver for December delivery on the MCX was almost flat at Rs 57,673 per kg. Buy December MCX silver around Rs 57,000 per kg with a stoploss of Rs 56,300 for a target of Rs 58,500 a kg, N Prasad, chief executive officer of Safe trade Advisors said. Subhrasom De, an analyst with Karvy Comtrade, however, advices investors to buy above Rs 58,500, for a target of Rs 60,500. Crude Oil prices fell on Monday after weak euro zone data showed contracting industrial output and highlighted the possibility of a regional recession as Europe struggles to contain its sovereign debt crisis. At times like these, Ram Pitre, head of research at ITI, advices investors to sell crude between Rs 4,975-4,980 per barrel. "Keep a stoploss of Rs 5,025 per barrel for a target of Rs 4,900 and 4,875," he said.
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