Short sell crude and buy Gold and Copper at dips: Experts

With the dollar now getting strong again and Chinese imports on a slide down, Gold -black (crude) and yellow- seem to be in for a ride of their own. Check out what experts say about Crude, Copper and Gold.

Crude

Kunal Shah of Nirmal Bang Commodities says that oil prices are likely to go down. Looking at the way the dollar has strengthened yesterday, with added pressure on crude through the drop in Chinese imports, oil prices will definitely fall, he says. He recommends going short in oil at 4240 with a stop loss of 4280 and expects prices to test at 4170 levels.

Ram Pitre of ITI agrees with Shah, but has valuations set a little higher than Shah. Pitre suggests that investors sell crude between 4260-4275, with a stop loss of 4295 for a target price of Rs 4195 and Rs 4160.

Gold

Tarang Bhanushali, AVP Research of India Infoline says that the ongoing euro crisis has led to gold prices rising above the 1550 levels on the Commex. On the MCX, he advises buying at 22500 levels, keeping a target of 22650 and a stop loss of 22420.

Copper

Copper imports into China have in fact increased. That, along with supply side disruptions in Chile will continue to be supportive for copper prices, says Suresh Nair of Admisi Commodities. He continues to be bullish on the LME copper prices. In the domestic market, he recommends buying on dips in the range of 430-432 with a stop loss at 428 and tick profit at 440.