Commodity Bets: Trading tips to make profit in gold, silver

Renisha Chainani of Edelweiss recommends buying gold on MCX at Rs 30,700-30,720 per 10 gram levels. "Maintain a stop loss for this trade at Rs 30,600 per 10 gram levels for upside target of Rs 30,850-30,900 per 10 grams," Chainani added.

Ram Pitre of Anand Rathi Commodities advocates selling gold MCX February contract at Rs 30,820-30,850 per 10 grams. Pitre says, "Keep a stop loss for this trade at Rs 30,900 per 10 grams for target price of Rs 30,650 per 10 grams and beyond that to Rs 30,500 per 10 grams." Priyank Upadhyay of SSJ Finance & Securities suggests selling silver on MCX at Rs 59,700 per kilogram. Upadhyay adds, "Place a stop loss for this trade above Rs 60,200 per kilogram for target of Rs 58,500 per kilogram." Hitesh Jain of India Infoline Link advises buying MCX copper February contract at Rs 439 per kilogram with a stop loss at Rs 435 per kilogram for an upside target of Rs 445 per kilogram. Don't Miss: MCX Gold can test Rs 31000 in near term: Nirmal Bang