Commodities: Expert views on gold, silver, crude and nickel

Priyank Upadhya of SSJ Finance and Securities advises selling gold on rallies around Rs 29,250 per 10 grams with a stop loss of about Rs 29,350 per 10 grams and look for targets near Rs 29,000 per 10 grams.

N Prasad of Safetrade Advisors recommends selling MCX silver around Rs 57,100 per kilogram with a stop loss of Rs 57,500 per kilogram for target of Rs 56,200 per kilogram. In energy Dipen Shah of stayvan.com saw a good breakout on NYMEX level for crude above USD 105 per barrel and he feels that it is now consolidating near USD 105 per barrel levels on NYMEX. On MCX he saw some consolidation yesterday. He feels that as long as crude remains above Rs 5,400 per barrel, it should be bought for a positional view. “For intraday, crude could be bought around Rs 5,540 per barrel with a stop loss of Rs 5,500 per barrel for a target of Rs 5,600-5,620 per barrel” he adds. Ram Pitre of ITI feels that Chinese data is still in contraction territory which continues to paint a mixed picture. He suggest sitting on MCX nickel between Rs 950-955 per kilogram with a stop loss of Rs 965 per kilogram for a target price of Rs 930 per kilogram and Rs 920 per kilogram.