Expert tips to trade crude, natural gas & copper

NS Ramaswamy, Ventura Securities of recommends buying crude MCX September contract above Rs 5,275 per barrel. He advises this with a target of Rs 5,345 per barrel and beyond that, on an intraday, to Rs 5,380 per barrel. “On a dollar terms, we get a great support at close to USD 93.90 per barrel hence the stop loss in MCX counter we can use Rs 5,240 per barrel as a stop loss,” he adds.

Priyank Upadhyay, SSJ finance & Securities feels that crude oil prices have been sustaining below Rs 5,400 per barrel consistently and are facing resistance towards those levels. He recommends suggest selling crude contract around Rs 5,350-5,360 per barrel ranges with the stop loss above Rs 5,400 per barrel for targets of around Rs 5,270-5,260 per barrel. Renisha Chainani, Edelweiss: Technically sees natural gas prices sustaining below its neckline support of head and shoulder pattern formed. She believes there is still 8-10% of downside available. So, Chainani recommends selling natural gas around Rs 150 per mmbtu levels with a stop loss of Rs 152 per mmbtu and targets of Rs 147 per mmbtu and Rs 145 per mmbtu on the lower side. Kunal Shah, Nirmal Bang Commodities saw sharp corrections in copper prices. He advocates going short in copper at Rs 428 per kilogram with the stop loss placed above Rs 433 per kilogram and expecting prices to go around and test levels of Rs 418 per kilogram.