Expert tips on crude, natural gas, silver & copper

Dipen Shah, Business Head of Stayvan.com believes that crude looks little bit overstretched with extended buying seen. He reckons that there would be some kind of profit booking that would creep into crude. Shah says, “If 5,130 per barrel is broken on MCX levels today, then aggressive traders could short the commodity with a stop loss of Rs 5,160 per barrel with a target of Rs 5,100-5,080 per barrel.”

Sumeet Bagadia of Destimoney Commodities is bullish on natural gas and expects prices to test levels of around Rs 175 per mmbtu in next two-three days. He advocates using dips in prices till Rs 161-162 per mmbtu as buying opportunities with a stop loss to be placed below Rs 156 per mmbtu for the upside target of Rs 168 per mmbtu and above that Rs 175 per mmbtu in next two-three days. Shreekant Jha, Managing Director of PJ Commodity Ventures feels that silver has not done much and has hung around at Rs 53,500 per kilogram levels give an take a few 100 points. Jha adds, “The call remains the same to buy it at around 53,000 per kilogram and sell it at Rs 54,500 per kilogram if at all those opportunities come because it’s not really moved anything much. The call on silver hence would be buy 53,000 per kilogram and sell Rs 54,500 per kilogram.” Renisha Chainani, Deputy Manager - Research of Edelweiss recommends selling copper on MCX on rallies around Rs 417 per kilogram with a stop loss of Rs 419.50 per kilogram and target of Rs 414-413 per kilogram on the downside.