Expert tips to trade commodities market

Priyank Upadhyay of SSJ Finance & Securities believes that crude prices have been consolidating above Rs 4,950 per barrel in MCX. So, he suggests buying MCX crude contract around Rs 4,980 per barrel with a stop loss below Rs 4,930 per barrel for targets of around Rs 5,040 per barrel followed by 5,060 per barrel.

N Prasad of Safetrade Advisors advises selling MCX August crude oil contract around Rs 4,950 per barrel with a stop loss of Rs 5,000 per barrel for a target of Rs 4,865 per barrel. Ravindra Rao of Motilal Oswal feels that copper is taking a very good support at Rs 418 per kilogram levels. He expects that the prices might move higher till Rs 427 per kilogram. Rao says, “It is not going below Rs 418 per kilogram feels that and Rs 420 per kilogram being the first support, one has to buy copper at around Rs 420 per kilogram feels that with a stop loss of Rs 417.80 per kilogram feels that for an upside target of Rs 427 per kilogram feels that.” Atul Shah of Emkay Commtrade advocates buying aluminium August contract at the rate of Rs 105 per kilogram for the target price of Rs 107 per kilogram with a stop loss of Rs 103.50 per kilogram.