Commodity Bets: Sell gold; buy crude, say experts

Rajini Panicker of MF Global Commodities India recommends selling lead April contract on MCX at levels of Rs 107.50 per kilogram to Rs 108 per kilogram. She suggests placing a stop for this trade around levels of Rs 109 per kilogram and look to target levels of Rs 106 per kilogram to about Rs 104.50 per kilogram.

Tarang Bhanushali of India Infoline believes that the strengthening of the US dollar would put further pressure on precious metals. He advises going short on gold futures around Rs 28,540 per 10 grams keeping a target of Rs 28,400 per 10 grams and a stop loss of Rs 28,670 per 10 grams. T Gnanasekar, Director at Comm Trendz Research & Fund Management suggests selling copper at Rs 415 per kilogram to Rs 420 per kilogram levels with a stop at Rs 423 per kilogram and a potential target of Rs 395 per kilogram. Shreekant Jha of PJ Commodity Ventures feels that crude is reaching Rs 5,400 levels per barrel which it earlier did based on the last trade of buying it around Rs 5,250 per barrel levels. It’s now again backed off a little bit and the same levels hold. According to him, it’s a golden opportunity of crude coming down to Rs 5,250 per barrel and he advises buying it there with targets of Rs 5,400 per barrel.