Priti Gupta, Director at Anand Rathi Commodities expects a slight rebound in gold based on short coverings aided by the depreciating rupee. She suggests buying MCX gold at Rs 29,700 per 10gm with a stop loss of Rs 29,658 per 10gm and an initial target of Rs 29,800 per 10gm followed by Rs 29,900 per 10gm.
Talking about crude, she adds, “We have always maintained that there is an oversupply in crude. Given that this pressure has eased out, slower growth numbers coming in from the US as well as from China, we could see a lot of pressure coming in crude and we would be short on crude”. Gupta suggests selling MCX crude at Rs 5,040 per barrel with a stop loss of Rs 5,065 per barrel with an initial target of Rs 4,980 per barrel followed by Rs 4,950 per barrel. Watch video for her betsDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
