N Prasad of Safetrade Advisors recommends buying gold on MCX. "Maintain a stop loss for this trade at Rs 32,650 per 10gm for a target of Rs 33,270 per 10gm", Prasad adds.
N Prasad of Safetrade Advisors advocates buying MCX crude. Prasad says, "Keep a stop loss for this trade at Rs 6,430 per barrel for a target is of Rs 6,560 per barrel".
Commodity experts are upbeat on crude, gold, zinc and lead, they advise buying them.
Commodity experts are upbeat on crude and natural gas, they advise buying them. However, they are not so bullish on copper, hence suggest selling it.
Ram Pitre of Anand Rathi Commodities suggests buy on gold in domestic market around Rs 29,450-29,475 per 10gm range with a stop loss of Rs 29,375 per 10gm with an initial target of Rs 29,575 per 10gm followed by Rs 29,640 per 10gm.
Renisha Chainani of Edelweiss suggests buying crude above Rs 5,120 April contract with stop loss of Rs 5,085 and target to be Rs 5,170 and Rs 5,190 on the higher side.
N Prasad of Safetrade Advisors advises selling MCX gold at Rs 29,600 per 10gm. He adds, "Keep a stop loss at Rs 29,850 per 10gm with a target of Rs 29,380 per 10gm".
Sumeet Bagadia of Destimoney Commodities advises buying MCX gold at Rs 29,550 per 10gm. He says, "Place a stop loss at Rs 29,400 per 10gm on the lower side for an upside target of Rs 29,700 per 10gm. If prices are able to break and give close to Rs 29,700 per 10gm then further upside rally can be seen till Rs 29,800 per 10gm in next one-two days".
Dipen Shah of stayvan.com recommends buying MCX silver at Rs 53,100 per kilogram with a stop loss at Rs 52,900 per kilogram and a target of Rs 53,800-53,900 per kilogram.
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.
NS Ramaswamy, head commodities at Ventura Securities recommends a buy on silver in the range of Rs 56,700-56,800 per kilogram. “The targets for silver would be 57,250 per kilogram and beyond that Rs 57,550 per kilogram. This could be with a stop loss close to Rs 56,500 per kilogram,” he adds.
NS Ramaswamy, head commodities at Ventura Securities recommends buying silver MCX May contract only on break out above Rs 57,750 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.
Here is a detailed analyses by four experts on four commodities - gold, crude, nickel and silver.
Kaushal Jaini, assistant vice president of Dani Commodities advises to short gold MCX Rs 27,300 per 10 grams with a stoploss of Rs 27,500 per 10 grams and target of Rs 27,000 per 10 grams.
Chief executive of Safetrade Advisors, N Prasad says that he expects to see a bounce back in gold, silver and copper and therefore has a buy call on these metals.
Gold is on a bearish track, says N Prasad, chief executive officer of Safetrade Advisors. He expects some more downside for the yellow metal.
N Prasad, chief executive officer, Safetrade Advisors is bullish on copper. He recommends buying December contract around Rs 5,160 with a stop loss of Rs 5,120 for a target of new highs of Rs 5,250-5,240.
Speaking to CNBC-TV18 Prasad said, "We can sell copper around Rs 382 on MCX December contract for a target of Rs 375 with a stop loss of Rs 386," he said.
Domestic gold edged higher because of a weaker rupee. N Prasad, chief executive officer of Safetrade Advisors suggested a buy on gold on all dips. Moreover, Prasad feels crude chart is bullish inherently. Crude is in the good interim uptrend, but is in a corrective phase after three-four weeks of rally, he mentioned.
N Prasad, chief executive officer of Safetrade Advisors believes that crude has consolidated at current levels and advices traders to buy on dips.
The commodity space has been witnessing a lot of volatility due the rising concerns over global growth and fears of euro zone's sovereign debt crisis. Crude oil futures fell sharply on Friday, settling at the lowest price in more than a year.