Commodity bets: Trading tips for crude, nickel & aluminium

Sugandha Sachdeva of Religare Commodities advises long on crude oil at levels close to Rs 5,120 per bbl to Rs 5,125 per bbl mark in the MCX April series, keeping a stop in place at Rs 5,080 per bbl mark and price are likely to make a switch towards Rs 5,190 per bbl mark on the higher side.

Also Read: Reliance Industries spuds first exploration well in 5 years Ravindra Rao of Motilal Oswal Commodities suggests selling nickel. Rao says, "We expect prices might come up towards Rs 938 per kilogram levels, which can be used as a selling opportunity and on the upside the resistance is at Rs 952 per kilogram, which can be maintained as a strict stop loss. We expect prices might once again come lower till Rs 910 per kilogram." Priyank Upadhyay of SSJ Finance & Securities recommends selling natural gas around Rs 217 per kilogram with a stop loss above Rs 221 per kilogram and targets of around Rs 210 per kilogram. Dharmesh Bhatia of Kotak Commodities advocates buying aluminum. "Any decline towards Rs 110 per kilogram and below is a good level to accumulate maintaining a stop loss of Rs 100 per kilogram and hold long for target of around Rs 104-105 per kilogram," Bhatia adds.