Commodity Bets: Expert tips to trade commodity markets

Shreekant Jha, Managing Director of PJ Commodity Ventures believes that crude didn’t do anything much yesterday and is still hovering around the Rs 5,000 per barrel levels. So, he suggests targets for crude in the range of Rs 5,100-5,150 per barrel which may occur today. He further adds, “Buy crude at the Rs 5,000 per barrel levels or if you have already bought into it then remain long on crude for about 100-150 points on the upside.”

Ram Pitre, Head research at ITI Limited advocates a sell in silver between Rs 52,900-53,000 per kilogram with a stop loss of RS 53,200 per kilogram for a target price of Rs 52,500-52,300 per kilogram. Rajini Panicker of MF Global Commodities recommends going short - the July zinc on MCX ay levels of Rs 102.50-103 per kilogram with a stop for this trade around Rs 104 per kilogram for targets of Rs 100-98 per kilogram. Sumeet Bagadia of Destimoney Commodities expects nickel prices to move up. He feels that nickel oversold and hence advises using dips in prices till Rs 880 per kilogram levels as buying opportunities with a stop loss to be placed at Rs 860 per kilogram on downside for the upside target of Rs 900 per kilogram. He says, “If prices are able to break Rs 900 per kilogram on a closing basis then further rise can be seen till Rs 925 per kilogram levels.”