Experts say buy zinc, lead; sell crude, silver

Given the weakness in crude, Shreekant Jha of PJ Commodity Ventures says, it would be a sell at Rs 5,200-5,250 per barrel levels on any retracement today. He suggests covering crude around Rs 5,500 per barrel.

“The trade should be to sell at about Rs 5,200-5,250 per barrel, in that range and cover it at Rs 5,000 per barrel,” he told CNBC-TV18.
In the base metal space, Reena Walia of Angel Broking advises buying MCX zinc June contract around Rs 103.50 per kilogram levels with a stop loss at around Rs 102 per kilogram, for target of 105.50 per kilogram today.
Sumeet Bagadia of Destimoney Commodities feels that silver has broken the major support of Rs 55,000 per kilogram on charts and now it has potential to touch levels of around Rs 53,100 per kilogram in next couple of days. He recommends that any rise in prices till Rs 54,800 or Rs 55,000 per kilogram should be used as selling opportunities with a stop loss to be placed at Rs 55,300 per kilogram on the higher side for down side target of Rs 54,000 per kilogram and below that Rs 53,100 per kilogram in next couple of days.
Ashish Kyal of Commtrendz thinks that lead has been relatively outperforming other base metals. He says that prices have been forming higher highs and higher low formation which is bullish. He thinks there is a strong support around Rs 109-110 per kilogram levels. So he suggests buying lead on dips to Rs 111 per kilogram with a stop loss of Rs 109 per kilogram and a target of around Rs 114 per kilogram.