Commodity experts are upbeat on silver and crude, they advise buying them. However, they are not bullish on gold, hence suggest selling it.
Commodity experts are not so upbeat on copper, silver and natural gas. However, they expect crude to touch Rs 5,720 per bbl, hence suggest buying it.
Ravindra Rao of Motilal Oswal recommends selling MCX gold at Rs 29,700 per 10gm with a stop loss of Rs 30,000 per 10gm and a target of Rs 29,400-29,300 per 10gm on the lower side.
Priyank Upadhya of SSJ Finance and Securities advocates selling copper around Rs 439 per kilogram to Rs 440 per kilogram with stop loss Rs 443 per kilogram and target of Rs 433 per kilogram followed by Rs 431 per kilogram.
Sreekanth Jha of PJ Commodity Ventures advocates selling gold at Rs 30,200 per 10gm for target of Rs 30,000 per 10gm.
Hitesh Jain of IIFL recommends buy on crude February contract at Rs 5,190 per bbl with a target of Rs 5,260 per bbl and stop loss of Rs 5,140 per bbl.
Priyank Upadhya of SSJ Finance and Securities suggests buying nickel at Rs 990 per kilogram with a stop loss below Rs 977 per kilogram and targets of Rs 1,005 per kilogram followed by Rs 1,012 per kilogram.
Rajini Panicker of MF Global Commodities India feels that gold is trading at four month lows and the RSI rating is also below 30 which indicates that gold is oversold.
For energy, Dipen Shah of Stayvan.com sees crude consolidating near USD 94-95 per barrel levels. He feels that there is a good support at USD 93 per barrel regions.
Dipen Shah of stayvan.com feels that there will be a fall in commodity exchange for gold prices and the rupee could find support here. He reckons that this would inevitably lead to a fall on gold prices on MCX also.
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.
Ram Pitre of ITI feels that the oil market has found equilibrium right now trading in the range between USD 100.68-105.45 per barrel in international market. He thinks that either side break will give a clear trend.
Ram Pitre of ITI suggests buying copper on MCX May contact between Rs 442 per kilogram and Rs 444 per kilogram with a stop loss of Rs 440 per kilogram for a target price of Rs 450-452 per kilogram.
Rajini Panicker of MF Global Commodities India recommends to go short the May silver on MCX at levels of around Rs 56,850-56,950 per kilogram. "Place a stop for this trade around levels of Rs 57,200 per kilogram and look to target levels of Rs 56,200 per kilogram to about Rs 55,900 per kilogram," she says.