Expert bullish on gold, crude & zinc; negative on lead

Ram Pitre, Head research at ITI Limited advocates buying gold between Rs 29,250-29,300 per 10 grams with a stop loss of Rs 29,150 per 10 grams for a target price of Rs 29,400-29,500 per 10 grams.

Shreekant Jha, Managing Director of PJ Commodity Ventures reckons that there is an immediate target for crude at of Rs 5,100 per barrel. He further adds, “Should you see the Rs 5,100 per barrel earlier in the day, maybe you could wait for another 50 points but by and large that’s what crude would do because it is in a narrow range.” So, he advises buying crude at Rs 5,000 per barrel and exit on Rs 5,100-5,150 per barrel levels.

Rajini Panicker of MF Global Commodities recommends going short the July lead on MCX at levels of Rs 104.80-105.20 per kilogram with a stop loss around Rs 106.20 per kilogram and for target levels of around Rs 101.80 per kilogram.

Sumeet Bagadia of Destimoney Commodities expects zinc prices to move up and touch levels of around Rs 104.10 per kilogram in next couple of days. So, he advises using dips in prices till Rs 101-101.50 per kilogram to be used as buying opportunities with a stop loss to be placed at Rs 100.10 per kilogram for the upside target of Rs 103.10 per kilogram and above that Rs 104.10 per kilogram in next two-three days.