Commodity Bets: Experts bullish on crude and silver

For energy, Dipen Shah of Stayvan.com sees crude consolidating near USD 94-95 per barrel levels. He feels that there is a good support at USD 93 per barrel regions. Due to the oversold nature of the commodity, he sees some spout of buying coming in the late evening trade. Hence on MCX, he advises buying crude at around Rs 5,010-5,020 per barrel with a stop loss of Rs 4,980 per barrel for a target of Rs 5,060 per barrel.

On the base metal pack NS Ramaswamy of Ventura Securities suggests buying copper MCX June contract in the range of Rs 418-420 per kilogram with a stop loss of Rs 416 per kilogram or a deeper stop loss of Rs 414 per kilogram. He recommends a buy in MCX copper June contract for target of Rs 424 per kilogram and beyond that to Rs 428 per kilogram on an intraday basis. Priyank Upadhya of SSJ Finance and Securities reckons that there is a short term pull back in silver prices. So he advocates buying silver around Rs 53,000 per kilogram with a stop loss below Rs 52,400 per kilogram and look for targets of around Rs 54,000-54,500 per kilogram in short term. Rajini Panicker of MF Global Commodities India recommends going short - the June copper on MCX at levels of around Rs 425 per kilogram. She suggests placing a stop for this trade around Rs 428 per kilogram for target levels of Rs 420 per kilogram to about Rs 415 per kilogram.