Jan 03, 2013, 10.59 AM IST

Buy precious metals on dips says Kishore Narne

There were big moves on gold and silver at the opening of the commodity market, maybe on back of influential announcements over the last 48 hours. In an interview to CNBC-TV18 Kishore Narne, Motilal Oswal Commodity Broker shared his reading and outlook on commodities.

Kishore Narne, Associate Director ,Motilal Oswal

Expertise : Commodities

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Bazaar at 08:00 am

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There were big moves on gold and silver at the opening of the commodity market, maybe on back of influential announcements over the last 48 hours.

In an interview to CNBC-TV18 Kishore Narne, Motilal Oswal Commodity Broker shared his reading and outlook on commodities.

He believes it would be a strategy to buy on dips rather than buying into this rally because yesterday and today, we have seen rallies, so buying at these levels will be slightly riskier.

Also read: RBI mulls tax sops for pledging gold, higher import duties

Kishore Narne discuss trading strategies for the day.

GOLD MCX
Buy at Rs 30800-30850
Stop Loss Rs 30600
Target: Rs31150

SILVER MCX
Buy at Rs 58400-58450
Stop Loss: Rs 57200
Target: Rs 60200

COPPER MCX
Buy at Rs448
Stop Loss: Rs 444
Target: Rs 456

CRUDE MCX
Sell at Rs 5040
Stop Loss: Rs 5090
Target: Rs 4960

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