Expert strategy: 4 hot commodity trading tips

Dipen Shah of Stayvan.com suggests buying gold on MCX at around Rs 30,300 per 10 grams with a stop loss of around Rs 30,200 per 10 grams for a target of around Rs 30,400-30,450 per 10 grams on an intra-day basis.

Rajini Panicker of MF Global Commodities India recommends going short on MCX June copper on rallies above Rs 420 to 421.50 per kilogram with a stop for this trade at around Rs 423-424 per kilogram for targets of Rs 416-412 per kilogram. Sumeet Bagadia of Destimoney Commodities feels that nickel is good to sell at around Rs 940-945 per kilogram levels with stop loss to be placed at Rs 960 per kilogram levels on higher side for the downside target of Rs 920 per kilogram and below that to Rs 905 per kilogram in two-three days. Ravindra Rao of Motilal Oswal Commodities believes that MCX copper has witnessed a decent bounce back in the recent few sessions. He reckons that there has been a rally till Rs 420 per kilogram today. Rao thinks that the decent bounce back can be attributed to the retracement of its fall from Rs 430 per kilogram to Rs 397 per kilogram. Now, he expects that the prices might again take resistance at Rs 422 per kilogram and might fall to Rs 413 per kilogram so he advocates selling copper on rallies till Rs 422 per kilogram with stop loss of Rs 426 per kilogram for a downside target of Rs 413 per kilogram.