Ritesh Gandhi, senior research analyst, commodity and currency, Anand Rathi Commodities in an interview to CNBC-TV18 shared his outlook on various commodities like crude and copper.
On the domestic front, Gandhi is looking at Rs 5,000 per barrel as a key resistance level for crude. "If we see a rise above this level, we could be looking at gains in the days ahead," he added. Further, he expects Brent crude to test about USD 125 per barrel ahead. Meanwhile, he expects copper to move till about Rs 430-440 in the domestic market. "We believe a further decline will be coming in on London metal exchange inventories and prices could be propped up to almost USD 8,900 to 9,000 on the LME," he said. One could look to buy copper on dips, he suggests. Below is the edited transcript of GandhiDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
