Experts bullish on crude & silver, bearish on copper & zinc

Renisha Chainani of Edelweiss expects crude oil prices to move up from here. At MCX she advises buying crude oil around Rs 5,420 per barrel with a stop loss of Rs 5,395 per barrel and target of Rs 5,460 per barrel for intraday traders.

NS Ramaswamy of Ventura Securities recommends buying MCX September silver contract anywhere above Rs 57,900 per kilogram for targets of Rs 59,050 per kilogram and beyond that to Rs 59,750 per kilogram with a stop loss of Rs 57,400 per kilogram. Kunal Shah of Nirmal Bang Commodities advocates going short in copper at Rs 429 per kilogram with a stop loss placed above Rs 432 per kilogram and expecting prices to move down and test levels of Rs 421 per kilogram. Priyank Upadhyay of SSJ Finance & Securities believes that zinc prices have rallied towards Rs 103-104 per kilogram mark which is again resistance zone on the higher side. He anticipates zinc prices to come down in short term and hence suggests selling MCX zinc August contract around Rs 103.50-104 per kilogram ranges with a stop loss above Rs 105.20 per kilogram and we expect targets of around Rs 102 per kilogram.