Experts bullish on gold & copper, negative on lead & crude

Shreekant Jha, Managing Director of PJ Commodity Ventures believes that gold has started a new trend on the upside. He thinks that Rs 30,500 per 10 grams is the first target that he would see on MCX. “You can buy gold at Rs 30,300 for a target of Rs 30,500.” Jha adds.

Dipen Shah, Business Head of Stayvan.com feels that crude is again facing huge resistance at Rs 5,400 on MCX. He advocates initiating short trade till the target of Rs 5,300 per barrel with a stop loss of Rs 5,410 per barrel. Ravindra Rao of Motilal Oswal feels that copper is looking positive. He feels that it has sustained at Rs 415 per kilogram levels and is trading above Rs 420 per kilogram. He expects the prices might go up till Rs 425-427 per kilogram. Rao says, “Dips towards Rs 420-419 per kilogram should be used as a good buying opportunity with a strict stop loss of Rs 414.80 per kilogram on the lower side. One can take a target of Rs 425-427 per kilogram on the upside.” Sumeet Bagadia of Destimoney Commodities reckons that lead prices would move down and touch levels of around Rs 103 per kilogram in next couple of days. He recommends using rise in prices till Rs 107 per kilogram as selling opportunity with a stop loss to be placed at Rs 109 per kilogram on higher side for the downside target of Rs 105 per kilogram and below that Rs 103 per kilogram.