Expert views on gold, natural gas, copper & nickel

Dipen Shah of Stayvan.com believes that on the MCX, due to the appreciation of the Indian rupee there has been a fall in gold prices and he expects more profit bookings and further fall in it. Thus, he advocates selling gold at Rs 29,500 per 10 grams with a stop loss of Rs 29,570 per 10 grams for a target of Rs 29,400 per 10 grams on MCX.

NS Ramaswamy of Ventura Securities recommends buying the natural gas MCX July contract in the range of Rs 157-159 per MMBTU with a stop loss of Rs 155 per MMBTU for intraday target of Rs 163 per MMBTU and beyond that to Rs 166 per MMBTU. Kunal Shah of Nirmal Bang Commodities feels that copper prices may not be able to move up in near term. So, he advises selling copper at Rs 428 per kilogram with a stop loss placed above Rs 432 per kilogram and expects prices to move and test levels of Rs 420 per kilogram. Sumeet Bagadia of Destimoney Commodities anticipates that nickel prices would move up and touch levels of Rs 960 per kilogram and above that Rs 980 per kilogram in the next couple of days. “Anytime dips in prices till Rs 935 per kilogram or Rs 940 per kilogram levels should be used as a buying opportunity with a stop loss to be placed at Rs 920 per kilogram levels for the very short term target of Rs 960 per kilogram and above that Rs 980 per kilogram in next couple of days.” he adds.