Commodity bets: Trading tips for crude, gold & copper

Sugandha Sachdeva of Religare Commodities recommends long position in crude oil at levels close to Rs 4,970 per bbl, keeping a stop loss of Rs 4,935 per bbl with target of Rs 5,070 per bbl.

Ravindra Rao of Motilal Oswal advocates selling copper. Rao says, "Copper prices might fall towards Rs 424-426 per kilogram. A rise towards Rs 432 per kilogram can be used as a selling opportunity. On the upside resistance is at Rs 435 per kilogram, which can be maintained as a strict stop loss and on the lower side take target of Rs 426 per kilogram and then Rs 424 per kilogram." Nifty could move to 5,600 in near-term, says Geosphere Hitesh Jain of IIFL advises selling crude oil March contract at Rs 4,985 per bbl with target of Rs 4,920 per bbl and a stop loss of Rs 5,025 per bbl. RBI chief says high inflation prompting more gold buys Sreekanth Jha of PJ Commodity Ventures suggests selling gold at Rs 30,000 per 10gm and cover at Rs 29,500 per 10gm.