Sell gold on every rally: Anand Rathi Commodities

Priti Gupta, Director at Anand Rathi Commodities advises to sell gold and buy crude.

"US President Barack Obama's speech has had a positive effect on bullion. Although, our long-term call on bullion especially on gold remains bullish, we maintain our short-term bearish view. We would use every upside rally on gold to sell for the next few trading sessions. We would be on the sell side on gold today", she says.

She suggests selling MCX gold at Rs 30,650 per 10gm with a stop loss of Rs 30,750 per 10gm and an initial target of Rs 30,500 per 10gm and Rs 30,450 per 10gm.

Gupta further adds, "Crude seems to be the only commodity which seems to be maintaining its uptrend".

On crude, she recommends to buy at Rs 5,220 per barrel levels for a target of about Rs 5,300 per barrel and a stop loss of Rs 5,195 per barrel.

Watch video for her bets.