Buy crude at Rs3725/bbl, target of Rs3750/bbl: PJ Commodity

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In an interview with CNBC-TV18, Shreekant Jha, Managing Director of PJ Commodity Ventures, spoke about his strategies on crude, copper and gold.

Here is a verbatim transcript of an exclusive interview with Shreekant Jha on CNBC-TV18. Also watch the accompanying video.

Strategy on crude:

Crude has been trading between 3,200-3,800 levels. Presently, we are close to 3,800 levels. We would look for a buy above Rs 3,725/bbl and target of Rs 3,750/bbl.

Strategy on copper:

Copper is looking good. The current market price is at Rs 340/kg. We would look for a target at about Rs 346/kg and Rs 351/kg. We would not be on the short side. It has been in momentum for quite a while. 

Strategy on gold:

It has broken the 16,800 levels and now reached 17,000 levels. We are now looking to buy it at Rs 17,075/gms for a target of Rs 17,200/gms.