Commodity Strategies: Play smart with expert advice

In commodities, international crude rose on speculation that fuel demand will increase as Europe discusses plans to tame a sovereign debt crisis, which slowed its economy and roiled financial markets. Currently, Brent crude is trading around USD 104 levels.

Ram Pitre, director of Brics Securities suggested selling crude on a rally between Rs 4,020-4,030 per barrel for a stop loss of Rs 4,060 per barrel and a target of Rs 3,900-3,850 per barrel.
From the precious metals space, gold recovers from biggest three-day decline since 1983. Ashish Shah of Sushil Global Commodities told CNBC-TV18 that the gold prices have not yet corrected and can eventually correct to USD 1500 per ounce. He recommended selling on rallies for an overall target objective of Rs 24,500 per 10 grams.
Moreover, head of commodities research at MF Global Commodities India, Rajini Panicker feel the November copper on Multi Commodity Exchange (MCX) at current levels of 360 is highly an oversold zone, indicated by RSI. "Sell copper at Rs 370-373 per kilogram with a stop loss at Rs 379 per kilogram to target of Rs 355-345 per kilogram," she pointed out.
However, Admisi Commodities' head Suresh Nair sees the demand outlook for copper slackening in the US and Chinese markets. He expects the LME prices to test 6,800 levels on the downside. "On the downside, we would recommend to sell on rallies MCX November copper at Rs 365 per kilogram above a stop loss at Rs 370 per kilogram and a profit at Rs 350 per kilogram," he added.