Expert tips to trade commodity markets

Atul Shah of Emkay Commtrade feels that Fed giving a standby to the stimulus package is positive for dollar and negative for commodities. Hence, he advises selling gold October contract at the rate of Rs 30,100 per 10 grams for a target price of Rs 29,800 per 10 grams with a stop loss of Rs 30,300 per 10 grams.

Priyank Upadhyay of SSJ Finance & Securities advocates buying natural gas at Rs 173 per MMBTU with a stop loss below Rs 166.50 per MMBTU for targets of around Rs 185 per MMBTU followed by Rs 185 per MMBTU. N Prasad of Safetrade Advisors suggests selling MCX August copper contract around Rs 418 per kilogram with a stop loss of Rs 421 per kilogram for a target of Rs 412 per kilogram. Ravindra Rao of Motilal Oswal recommends buying nickel at around Rs 868-865 per kilogram wit a stop loss of Rs 855 per kilogram for an upside target of Rs 895 per kilogram and then Rs 905 per kilogram.