Expert views on gold, crude, silver & nickel

Sumeet Bagadia, Destimoney Commodities continues to hold a bearish view on bullions for next couple of days. He anticipates gold prices to go down and touch levels of around Rs 29,600-29,500 per 10 grams levels in next couple of days. “Anytime rise in prices till Rs 30,050 or Rs 30,100 per 10 grams levels should be used as selling opportunity with the stop loss to be placed at Rs 30,250 per 10 grams on the higher side for the downside target of Rs 29,800 per 10 grams and below that Rs 29,600 per 10 grams in next one or two days” he adds.

Dipen Shah of Stayvan.com advises selling crude at Rs 4,590 per barrel with a stop loss of Rs 4,620 per barrel for a target of Rs 4,500-4,450 per barrel. Ravindra Rao of Motilal Oswal Commodities feels that on MCX, silver has been witnessing some selling pressure on higher levels. He believes that it is going to Rs 55,000 per kilogram but at Rs 55,000 per kilogram we are seeing a good amount of selling coming in. He expects this to continue and silver might once again fall till Rs 53,000-53,200 per kilogram levels. So, he recommends selling silver on rallies at Rs 54,500 per kilogram with a stop loss of Rs 55,100 per kilogram for a downside target of Rs 53,200 per kilogram. Rajini Panicker of MF Global Commodities India advocates going short the nickel June contract on MCX at levels of about Rs 960-965 per kilogram with a stop above Rs 970 per kilogram and look to target levels of about Rs 935 to Rs 930 per kilogram.