4 brokerages, 4 stocks: Place your commodity bets

Here are some commodity trading strategies from experts to help you trade better right now in commodities like gold, nickel, crude and silver.

Nickel

Kishore Narne, Vice President of Anand Rathi Commodities expects the current rally in risky assets especially in base metals to be temporary. On the metal side, probably nickel on a breakdown below Rs 1,000 on the MCX as it looks pretty weak. He says one can initiate a sell below Rs 1,000 and look for targets close to Rs 980 or 970 with a stop loss of around Rs 1,015 for the day.

Gold

Gold is stuck in a range between Rs 28,300 per 10 gms on the upper side to Rs 27,700 per 10 gms on the downside, says Kaushal Jaini, Assistant Vice President, Dani Commodities. He expects this range to continue until there is serious news about the Itay and China meeting and China buying into Italian bonds which may happen soon.

He sees a good bounce in gold once it breaks Rs 28,300 per 10 gms where there could be fresh round of buying above those levels. He advises clients to hold their positions currently but go long on gold above Rs 28,300 per 10 gms for an upside target of Rs 28,700-28,900 per 10 gms.

Crude

Sumeet Bagadia, Head of Commodity and Currency research, Destimoney Commodities expects crude prices to give upside move till USD 92 on the NYMEX. In the MCX, anytime a correction till Rs 4,200 or Rs 4,150 would be a very good buy opportunity for targets of Rs 4,400 and above Rs 4,400 where we can see Rs 4,500 too in the next two-three days.

Silver

N.Prasad, CEO, Safetrade Advisors, says buy MCX Silver December contract around Rs 65,100 with a stop loss of Rs 64,600 and a target of Rs 66,300.

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